Bank of America: BofA Hires Ex-DBS Executive for Payment Solutions

Bank of America has hired a former DBS executive for its payment solutions business in Asia.Bank of America has appointed Phil Carmalt as head of Asia Pacific global payment solutions (GPS) product, according to a statement. Based in Hong Kong, he will report to Greg Kavanaugh, head of GPS product, and Winnie Chen, head of APAC GPS.In the role, Carmalt will lead the bank's product management team to drive and execute its product strategy and vision for the region, across channels, cash and liquidity products. He will also be part of the senior leadership team in GPS Asia Pacific.Carmalt has more than 20 years of financial services experience in Hong Kong, Singapore and the UK with expertise in transaction banking from diverse roles across technology, program management, business management, product, client management, innovation and sales. He was most recently head of cash & trade product at DBS Hong Kong.