Overview
- Bank of America announced on July 17 new leadership that places Sonali Theisen as head of a global digital assets platform and Kevin Milsom to lead AI transformation inside its Global Markets platforms.
- The bank folded Amy Avery’s Analytics, Modelling & Insights team into the global platforms group to link research, models and execution systems more directly for traders and clients.
- The newly structured program focuses on regulated infrastructure use cases such as tokenized deposits, stablecoins for transfers, digital collateral mobility, custody and blockchain-based settlement rather than endorsing any specific token or public blockchain.
- These appointments operationalize prior moves, including Adam Dixon’s June role as global head of digital asset transformation, and align with BofA’s multibillion-dollar AI investment plans to boost productivity and revenue in markets operations.
- The shift mirrors wider Wall Street trends and could speed the creation of institutional rails for tokenized assets, change how custody and settlement work for clients, and raise the need for clear governance and regulatory coordination.