Bank of America Corp. announced today that Kunal Kamlani has been named head of global investment solutions, reporting to his former colleague at Citigroup, Sallie Krawcheck, president of global wealth and investment management.
Bank of America Corp. announced today that Kunal Kamlani has been named head of global investment solutions, reporting to his former colleague at Citigroup, Sallie Krawcheck, president of global wealth and investment management.
Mr. Kamlani replaces Chris Dupuy, who is stepping down to head institutional investments and philanthropic solutions. Mr. Dupuy will now report to Andy Sieg, head of retirement and philanthropic services, a unit within global wealth and investment management.
Mr. Dupuy remains in his current role until March, when Mr. Kamlani joins BofA, according to a press release.
Until recently, Mr. Kamlani, 37, was chief financial officer of Prestige Cruise Holdings, the parent company of Oceania Cruises and Regent Seven Seas Cruises.
Mr. Kamlani started his career at Citi in 2001, and left the firm in June of 2009, starting at Prestige in July. He attained the position of Citigroup Smith Barney's managing director and chief operating officer, where he was responsible for financial advisor technology, strategy, business risk management and finance.
He also had been chief financial officer and chief operating officer of Smith Barney's Investment Advisory Services division.
As head of global investment solutions, Mr. Kamlani will be responsible for managing global financial and investment solutions, including mutual funds, stocks, bonds, new issues, insurance, alternative investments and structured investments, according to the press release. He will also oversee managed-account programs, manager due diligence, portfolio construction and investment implementation activities, the release said.
"Kunal's experience and strong technical capabilities make him a great addition to our team," said Ms. Krawcheck in the release. "Global Investment Solutions is a critical area of our business, as it represents the core of our financial solutions platform.”
In his new job, Mr. Dupuy will oversee investment strategy, product management and servicing for institutional investments, fiduciary products, and private foundations and endowments, the release stated.
"Our RPS business is one of our biggest strategic opportunities,” Ms. Krawcheck said in the release. “Chris' experience in investments and strategy, and his seasoned leadership skills, will help us to differentiate Bank of America Merrill Lynch in this marketplace.”
