Bank of America Corp (NYSE:BAC) Merrill Lynch recently announced that Marcus Hiseman became its new Head of Europe, Middle East and Africa (EMEA) for the corporate debt capital markets venture. According to the recently seen memo by Reuters, BAC hired Morgan Stanley (NYSE:MS)’s Marcus Hiseman for this position.

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The roles and reporting of Marcus Hiseman

Marcus Hiseman will join the office in June in London. He will be the head of corporate fixed-income solutions business as well in this bank. Global Rates and Currencies Origination department co-head, Sam Losada will be his reporting manager. Also, Marcus Hiseman shall report to the EMEA DCM Origination & Syndicate department’s co-head, Jeff Tannenbaum.

He was previously serving Morgan Stanley with the corporate fixed-income capital markets in Europe. He managed this venture for seven years in MS. As far as his connection with Merrill Lynch is concerned, Marcus Hiseman has remained associated with the company for 11 years in London.

Benefit of his role to the Company

Marcus Hiseman’s years of experience and his long connection with Merrill Lynch will help the bank in deriving the necessary benefit. His management decisions and expertise over the venture will enable the bank in extracting better performance and better business for corporate debt capital markets in the attractive, but volatile region of Europe, Middle East and Africa.

The role of a designation at this department is to work along with the clients in organizing the borrowings, while also facilitating them with the pool of opportunity-seeking investors. The corporate debt capital markets add diversity to the existing portfolio of funding in any financial company. Also, this is considered as a cheaper option than equity financing. Usually, the Government corporate or the private big businesses can extract long term funding through this method.

At this designation, it is vital to have a head who can rope in the clients for company’s benefits.