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"The first half of this year has been very gratifying for our team," said David Gu, global head of rates and currencies. "The combination of Bank of America's unrivalled reach into corporate and retail clients and Merrill Lynch's long-standing relationships with institutional clients makes us a powerhouse in foreign exchange. Our goal now is to leverage the strategic advantages of our newly combined platform and become the No. 1 provider of solutions for our clients."
"Foreign exchange options are an increasingly common risk management tool, and Chris and Tom are proven trading veterans of the product," Vogel added. "We fully expect that the combination of their partnership with our talented sales force will pay immediate dividends - both in terms of deepening our client advisory expertise and in broadening our product footprint."
Bae joins from Goldman Sachs where he worked for 10 years, most recently as managing director in the equity derivatives trading group. Previously, he worked in the currency options trading group where over an eight-year period, he had various responsibilities, including managing the European options portfolio. He has a bachelor's degree in economics from the Massachusetts Institute of Technology.
Gillie, with more than 14 years of experience in options trading, joins from Credit Suisse where he worked for more than 10 years. In 2000, he was appointed head of the Asia FX business and subsequently assumed responsibility for FX structuring and FX sales. He was a member of the Asian fixed income management committee. Gillie holds a bachelor's degree from Manchester University.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company's corporate and investment banking, and sales and trading businesses operate under the Bank of America Merrill Lynch brand. Bank of America Merrill Lynch focuses on middle-market and large corporations, institutional investors, financial institutions and government entities. It provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, research, and liquidity and payments management. Bank of America Merrill Lynch serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and nearly 96 percent of the Fortune Global 500.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed