Bank of America is merging its global credit macro, fixed-income ETF, and high-grade corporate bond trading teams into a single platform. The move, outlined in a memo from George Brommer and Michail Zekyrgias, aims to streamline credit trading and enhance liquidity for clients. Rory O’Donovan and Amit Patel have been named co-heads of the new unit while retaining their existing roles.
A BofA representative confirmed the integration, describing it as a "single, frictionless ecosystem." The restructuring comes amid a surge in credit trading and hedging activity, driven by record issuance from hyperscalers and chipmakers. US high-grade and junk bond average daily trading volume has reached a record $61.6 billion this year, up from $55.2 billion in 2025. Electronic trading now accounts for 46% of all US high-grade corporate bond activity, rising from 44% last year and 30% in 2021.
The shift is pushing dealers to consolidate desks and improve efficiency.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing