Former Citibank (NYSE: C) executive Kunal Kamlani will join Bank of America (NYSE: BAC) next month as the company’s head of investment products and support services for its wealth and investment-management unit. Kamlani will report to division president Sallie Krawcheck.
Mr. Kamlani comes to Bank of America from Prestige Cruise Holdings, a cruise-ship operator that he joined last summer as CFO. Previously, he served as COO for Citibank’s retail brokerage unit, Smith Barney, which recently entered into a joint venture with Morgan Stanley’s private-client division last spring. Kamlani also served as COO of Smith Barney’s investment advisory services group, which provided support and infrastructure services to the brokerage’s fee-based business.
In Mr. Kamlani’s new role, he will manage investment product platforms used by the bank’s advisers, including brokers at Merrill Lynch.
Kamlani will replace Chris Dupuy, who is slated to become the new head of institutional investments and philanthropic services at BofA’s retirement & philanthropic services group as part of the company’s wealth and investment division.
At the beginning of 2010, Bank of America’s wealth-management division managed $2.2 trillion.
