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Bank of America put flesh on the bones of its long-proclaimed bond market ambitions this week by hiring two key rainmakers -- Bill White as global head of capital markets in New York and Scott Lampard in London.
Both are among the top bankers in their fields. Bill White, one of the US bond market's most respected bankers, was co-head of global debt capital markets at Credit Suisse First Boston in New York.
Lampard, whose hire has not yet been announced by BofA, was head of frequent borrower syndicate and origination at JP Morgan in London. Last year Euromarket borrowers voted him'captain' of the frequent issuer syndication dream team in EuroWeek's Celebration of Excellence.
The hires will lend serious credibility to BofA's worldwide push to improve its capital markets business. Last year Kenneth Lewis, chief executive of BofA, approved a plan to spend $600m expanding the firm's corporate and investment banking business in the US, Europe and Asia.
For Bill White, the move is the second time he has been lured to change jobs by former Morgan Stanley colleagues. This time it was Carter McClelland and Brian Brille, who are now at Bank of America. Eighteen months ago, John Mack, then chief executive of Credit Suisse First Boston and previously of Morgan Stanley, brought White over from Stanley to CSFB.