Bank of America has appointed several senior executives to expand the adoption of artificial intelligence, digital assets and data-driven tools across its global markets business, according to Reuters. The leadership changes are intended to support technology modernization and greater automation throughout the division.
Kevin Milsom has been named head of Platforms AI Transformation. He will oversee efforts to integrate AI into the systems, workflows and products used by Bank of America’s global markets teams.
Milsom will work within the Global Platforms organization led by Ashok Krishnan. The group is responsible for modernizing technology, increasing automation, and deploying generative AI and other emerging technologies across the market’s business.
The appointment comes as Bank of America plans to invest billions of dollars in technology, including AI. The bank expects these investments to improve employee productivity, strengthen client services, and create additional revenue opportunities.
Global markets operations involve large volumes of financial information, transactions and regulatory requirements. AI tools could help employees analyze data, automate repetitive processes and identify relevant information more quickly.
Bank of America is also moving Amy Avery and the Analytics, Modelling & Insights team into the Global Platforms group. The team will oversee data-driven insights and analytical capabilities across the organization.
Bringing the team into Global Platforms could help connect the bank’s data and modeling expertise with its broader technology transformation. These capabilities may support areas such as trading analysis, risk management, client intelligence and operational decision-making.
Sonali Theisen has been named head of the Global Digital Assets Platform. She will take on the additional responsibility while continuing to serve as head of Global FICC E-Trading and Markets Strategic Investments.
FICC refers to fixed income, currencies and commodities. Theisen’s expanded role connects the bank’s electronic trading operations with its developing digital asset strategy and related market infrastructure.
Financial institutions are increasingly exploring how blockchain technology, tokenization and digital assets could affect trading, settlement and capital markets services. Bank of America’s platform approach may allow it to coordinate these initiatives across multiple products and regions.
The appointments place AI transformation, analytics and digital assets under experienced leaders with responsibilities spanning technology and markets. Bank of America is seeking to ensure that new tools are implemented across practical business workflows rather than remaining isolated experiments.
The leadership changes also reflect growing competition among major banks to apply generative AI to research, trading, client service and internal operations. Bank of America plans to use the new structure to accelerate adoption while maintaining the controls required within a highly regulated financial institution.
