Bank of America appoints new rates head

Bank of America has promoted John Kapustiak to global head of interest rate derivatives trading. Chicago-based Kapustiak was previously head of US interest rate options and proprietary trading.

Kapustiak will report to Jonathan Moulds, head of global derivatives products, who is responsible for the rates business. Moulds will now spend more time concentrating his efforts on the wider global derivatives team, said Bank of America.Kapustiak has 13 years' experience with Bank of America, serving as head of over-the-counter foreign sovereign debt options trading in London and as a proprietary trader. He traded bonds and worked in sales for First National Bank of Chicago prior to