Bank of America Merrill Lynch (BAML) has appointed Fernando Vicario to the newly created role of head of corporate banking for emerging markets excluding Asia. The promotion is part of the bank’s efforts to boost income from emerging economies.

Vicario will be based in London, reporting to Andrea Orcel, executive chairman, global banking and markets, and president of emerging markets (excluding Asia), as well as Joel Van Dusen, global head of corporate banking coverage.

Emerging markets have become a key focus for BAML and its global corporate banking division. As part of this initiative, BAML has signed strategic agreements with Abu Dhabi Commercial Bank in the UAE and Garanti Bank in Turkey.

The bank has been granted a licence by the Central Bank of Brazil to offer global treasury solutions to multinational clients in Brazil.

Vicario brings to the new role over 22 years of experience in financial markets. He joined BAML in 1995 to head up the multinational advisory team in the US and Europe, with responsibility for supporting the bank’s business with US and European multinationals.

He was most recently head of corporate banking for financial institutions for Europe, the Middle East and Africa as well as Northern and Central Eastern Europe. In his new role, Vicario will also represent corporate banking on the emerging markets (excluding Asia) executive committee.