BofA ML hires UBS’s Porritt to head Asia FIG

Patrick Porritt has left UBS and is heading to Bank of America Merrill Lynch, according to people familiar with the matter.

Porritt will replace Michael Tan as head of BofA ML’s financial institutions group known in the industry as FIG in the Asia-Pacific region, they said. Tan left BofA ML to join Credit Suisse last year.

BofA ML has also been scoring landmark FIG mandates of late. The US investment bank advised on Mitsubishi UFJ Financial Group’s $5.73 billion bid for a 75% stake in Bank of Ayudhya, Thailand fifth-largest bank by commercial assets.

BofA Merrill also helped...