Bloomberg

(Bloomberg) -- Bank of America Corp. hired former Credit Suisse Group AG executive Pankil Patel to lead electronic trading services in the Americas, according to a person with knowledge of the matter.

Patel will start his new position at the Charlotte, North Carolina-based bank on July 5, according to the person, who asked not to be identified because the appointment hasn’t been announced publicly. He will oversee electronic trading of equities, options and futures.

Patel spent 13 years at Credit Suisse, where he was most recently Americas co-head of advanced execution services, before leaving in March. His departure from the Zurich-based bank came on the heels of Dan Mathisson’s exit there as head of U.S. equity trading.

Selena Morris, a spokeswoman for Bank of America, declined to comment.

--With assistance from Laura J. Keller To contact the reporter on this story: Annie Massa in New York at amassa12@bloomberg.net. To contact the editors responsible for this story: Nick Baker at nbaker7@bloomberg.net, David Scheer, Peter Eichenbaum

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