Bloomberg News reports that Foresti, who oversaw rates and European credit flow trading at the bank, will join Bank of America in June in London, according to a memo to employees obtained by Bloomberg News and confirmed by a spokeswoman.
He will report to David Sobotka, global head of FICC trading, and Fabrizio Gallo, who runs EMEA global markets and equities.
Finaly, Morgan Stanley has appointed Nancy King as head of its oil-liquids operations and made several senior appointments after the bank agreed to sell its global oil merchanting business to an OAO Rosneft subsidiary.
King, formerly chief risk officer at Morgan Stanley’s commodities division, will lead its remaining oil liquids business from New York, according to a memo obtained by Bloomberg News. She reports to Colin Bryce and Simon Greenshields, the bank’s joint heads of commodities trading in London and New York.