Bank of America Merrill Lynch has hired an ex-UBS banker as chief risk officer for Europe, the Middle East and Africa at a time when good risk management is a top priority for financial firms and corporate governance comes under tougher scrutiny.

David Oman will take up the post in London in October and report to Marisa Harney, head of international risk strategy development. He will be responsible for overseeing the bank's risk strategy in the region and liaise with the Financial Services Authority and other regional regulators.