Bank of America names co-leaders for initiative linking investment bank, wealth units

(Reuters) - Bank of America named co-leaders for the initiative on increased connectivity between its investment bank and wealth management units, according to an internal memo seen by Reuters on Monday.

Jim Rourke and Michael Liu are set to lead the initiative named Private Client Partnership Development, according to the memo.

The co-heads will be responsible for maximizing opportunities between the Global Corporate & Investment Banking, Merrill Wealth Management and Private Bank units.

Investment banking revenues have seen an uptick recently benefiting from renewed activity in the M&A market.

Rourke and Liu have been with Bank of America in the U.S. since 2008 and 2012, respectively.

Rourke, in his most recent role, was in the mergers and acquisitions group, while Liu has been a part of the emerging growth and regional coverage unit.

(Reporting by Saeed Azhar in New York and Pritam Biswas in Bengaluru; Editing by Shounak Dasgupta)