BofA’s rates revamp leans into multi-strategy boom
New rates head Laura Chepucavage prioritises collateral efficiency, e-trading and central risk book for enlarged rates, futures and financing unit
The meteoric rise of multi-strategy hedge funds has prompted a rethink among sell-side banks around the most appropriate structure for trading businesses to cater to this increasingly sophisticated and growing client base.
For Bank of America (BofA), the answer lies in a more integrated set-up.
In May, the US dealer combined its global rates business with the global futures and financing (GFF) unit, promoting existing GFF head Laura Chepucavage to run the enlarged rates franchise after rates co
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