Mark Werner will join Banc of America Securities (BAS) on October 27 as head of global markets, based in New York. In this role, he will focus on building the bank’s sales and trading capabilities, including its electronic systems, as well as expand distribution capabilities and deepen client relationships, the bank says.
Werner is replacing Jon Sandelman who is leaving the firm after six years to start a hedge fund. Sandelman became head of debt and equities at Bank of America and president of BAS in February. The titles differ because the bank has changed the name of the division from debt and equities to global markets. This division includes oversight of currency derivatives.
Werner will report to Charlotte-based Alvaro de Molina, chief executive officer of BAS. He will work closely with Carter McClelland, New York-based head of corporate and investment banking, to enhance the company’s product origination, and with William Fall, London-based head of international, to build its business in Europe and Asia.
Werner joins after 22 years with JP Morgan, where he was a member of the executive committee and vice chairman of JP Morgan Securities. Since 2001, he has run the North American interest rate markets business, as well as the futures and options businesses globally, according to BAS. He also serves as chairman of the US Treasury’s borrowing advisory committee.