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Bank of America hires Zhang for China business, memo says

FILE PHOTO: A Bank of America logo is seen in New York City, New York, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo

HONG KONG (Reuters) - Bank of America China has hired Wenjie Zhang as managing director and president, according to a memo seen by Reuters.

Zhang will be based in Shanghai and will be appointed as branch manager of Bank of America Shanghai, subject to regulatory approval, the memo said.

He joins the bank from HSBC HSBA.L, where he was most recently co-head of global banking and executive vice president of HSBC China.

A Bank of America BAC.N spokeswoman confirmed the contents of the memo.

Reporting by Scott Murdoch in Hong Kong; Editing by Kevin Liffey