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Dubno Restructures BofA's Global Markets Technology Group

Dubno, a former Goldman Sachs CTO, has plucked three high-level technology executives from competitors JPMorgan Chase, Goldman Sachs and UBS, all former fellow Goldmanites, to join his new group at Bank of America.

Although he's only been at Bank of America two months, Michael Dubno, the bank's new head of global markets and research technology, has already made major personnel changes to the group, which provides technology solutions and support to the global markets business, including equity, electronic trading, rates and currencies, credit and structured products, commodities, research, sales and capital markets.

In an internal memo data yesterday and obtained by Bank Systems & Technology, Dubno announced three new hires — all former colleagues during his 20 years at Goldman Sachs (1985 to 2005) — and several departures from his department.

* Kirat Singh will join the bank as head of global markets risk systems, a newly created position, on June 9. "Kirat will be responsible for building real-time risk assessment capabilities across asset classes and platforms for our business partners," Dubno wrote. Previously, Kirat was at JPMorgan Chase where he led a team that designed and built a software platform to unify trading, risk and pricing applications for foreign exchange options, equities and commodities. Kirat worked for Goldman Sachs from 1997 to 2006 developing sales, trading and risk management applications as well as core infrastructure for the fixed income, currency, commodity and equity trading desks. Singh will be based in New York City.

* Glenn Gribble joins as head of developer architecture, effective June 1. In this new position, Glenn will be responsible for deploying application development tools and standards. Glenn will work in close partnership with Kirat to achieve cross-platform risk capabilities. He joins the bank after 18 years at Goldman Sachs, most recently as chief technology officer for risk technology. He will be based in New York City.

* John Tumilty joins as GMRT chief operating officer and head of global equity technology, effective June 14. John has 24 years of experience in financial services technology. He joins the bank from UBS where most recently he was the chief information officer for the investment bank. John was head of equity technology for UBS from 2004 to 2006, and prior to that spent nine years at Goldman Sachs where in his last role he was global head of equity technology and head of European Capital Markets Technology. He will be based in London. The business support group, led by Greg Philips, will now report to John.

Dubno announced the departure of three senior leaders: Andy Bishop, who oversaw the architecture and strategy group, "has decided to leave the bank to pursue other opportunities," the memo said. Mike Jenkins, who led equity technology, is leaving and will be temporarily replaced by Andrew Banhidi. Tony Orefice, who was in charge of GMRT Business Support, left the bank earlier this year and Greg Philips has assumed his responsibilities, Dubno said.

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