SG Corporate & Investment Banking (SG CIB) has completed the acquisition of Bank of America’s Structured Investments business, which provided institutional investors focused on hedge funds with lending and structured product solutions. The deal includes certain proprietary technology related to the business and the transfer of client financing transactions and related assets, including structured products linked to alternative investment funds of funds.
The 19 sales, marketing and support staff that comprised Bank of America’s Structured Investments business will join SG CIB’s equity derivatives platform in both New York and London. SG CIB’s equity derivatives platform in the Americas, headed by Francois Barthelemy, will be composed of more than 100 front office staff, adding to SG CIB’s global equity derivatives team of 800.
Samuel Rosenberg, SG CIB Head of Equity Derivatives Sales for the Americas, said, “This acquisition diversifies our portfolio of structured alternative products and will unite an experienced team formerly at Bank of America with our current expert SG CIB staff as well as the structured products professionals acquired just under 2 years ago from Constellation Financial Management, creating a formidable US equity derivatives platform.”
The SG CIB structured products sales team operating out of New York will be led by Jason Griffith, and will cater to fund of funds, high net worth individuals and family offices as well as service the structured product needs of a wide range of institutions.