Bank of America is looking to bolster its private bank's traction with hedge funds, and just promoted an equities rising star to lead the charge
- Bank of America is angling to improve traction with hedge funds within its private bank, and it promoted an equities managing director to lead the effort.
- Kim Stolz, an MD in Senior Relationship Management and former prime brokerage sales exec, is joining the Private Bank as Private Client Advisor.
- She'll lead a new team focused on building out relationships with hedge funds.
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Bank of America is looking to bolster traction with hedge funds in its private bank, and it has promoted a rising star in its markets division with a track record of senior buy-side relationships to lead a new team.
Kim Stolz, a managing director in Senior Relationship Management within the global markets division, will join the private banking group later this month as a Private Client Advisor leading a New York-based team "with a primary focus on expanding our relationships with Hedge Funds," according to an internal memo viewed by Business Insider. She'll report to Eric Ingber, the market sales executive for New York in the private bank, according to the memo.
A Bank of America spokesman confirmed the contents of the memo.
"Since joining the Bank in 2014, Kim has taken on increasing sales and relationship management responsibilities within our institutional business," Geena Mayback, who runs the New York metro market within the private bank, wrote in the memo.
"Kim's experience and expertise, along with her enterprise mindset, will be a great complement to our team as we bring the breadth of the entire enterprise to our clients within the Private Bank," Mayback added.
Stolz has steadily risen the ranks since joining BofA's markets division six years ago. A perennial top producer on the equity derivatives sales desk, Stolz was promoted to managing director after three years and given the job of running equity derivative hedge fund sales for all of Europe out of the London office.
A little over a year later, she was brought back to New York and promoted to head of Americas prime brokerage sales, running a team of roughly 15 that handled sales to hedge fund clients.
She worked in equity derivatives sales at Citigroup and BTIG before joining BofA.
Prior to her career in finance, Stolz worked as a fashion model with Ford Models — she was on a season of "America's Next Top Model" — a writer at The Huffington Post, and a news anchor with MTV.
She's involved in LGBTQ+ awareness at the firm and has sat on the bank's LGBTQ+ Executive Council.
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