Bank of America has promoted James Gill, a former executive for insurance company Prudential, to lead its financial institutions franchise for Europe, the Middle East and Africa (EMEA), Reuters reported Thursday (July 14).
The bank has been seeking more business from the region’s financial institutions (FIs) and FinTechs.
That comes as Arif Vohra, one of the bank’s most senior members of the European FI group, quit in favor of joining Barclay’s in June.
The bank said in a memo that Gill would be looking into relationships with key clients, helping to expand the commercial focus.
Gill used to work with Morgan Stanley and will be based in London.
The Reuters report notes that Gill joined the bank in 2020 from Prudential, where he was in charge of the group’s strategy and mergers and acquisitions deals. He also led the spinoff of Prudential’s U.K. and European insurance and asset management business M&G.
See also: BoA Offers Luxury Travel to Preferred Customers Through Indagare
PYMNTS wrote recently that Bank of America had been offering travel experiences through its partnership with Indagare, a boutique travel company.
The experiences are tailored specifically for “ultra high net worth” clients.
According to Andy Sieg, president of Merrill Wealth Management, the company always wants to look for ways to reward clients that have built relationships with the bank.
The loyalty program is connected into Bank of America’s Preferred Rewards program, which has around 10 million members, and participants get different orders based on differing factors.
“Indagare travel experiences are available exclusively to Diamond Honors members — clients with $10 million and more across their Bank of America banking and Merrill investing balances,” the announcement said.
This comes as households have been spending more on leisure, even with the inflation — airline spending was up 50% year over year in May.
The report says Indagare offerings include things like a four-day trip to the Napa Valley and a meeting with elite vintners, and another trip is called “The Best of Private Paris,” including trips to artists’ studios and private homes.
A third excursion includes a trip to Jordan with a private concert in a Roman amphitheater.
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