Bank of America has merged its specialty asset management group with its alternative investments business and has appointed Nancy Fahmy as head of the combined group.
The bank’s specialty asset management group manages timber, farm and ranch land, oil, gas and mineral interests, real estate as well as private businesses.
The alternative investments business offers access to hedge funds, private equity, real estate, precious metals and non-traditional mutual funds.
In the new role, Fahmy will report to the vice chairman of global wealth and investment management at Bank of America and head of the chief investment office and investment solutions group at Merrill Lynch and US Trust Keith Banks.
Fahmy previously managed the capital markets and the alternative investments business. The bank will appoint a new capital markets at a future date.