Bank of America has assigned to Frank Abraham the task of running its global treasury services for Europe, after the previous head of the business returned to the US.

Abraham, who will hold on to his existing role as manager of global trade services at Bank of America, replaces John Purciarello, who stays at the bank but based in the US. Abraham will work with treasury clients on short-term investments and borrowing, as well as foreign exchange, trade finance and treasury management, the bank said. Bank of America, while dominant in this area in the US, has been pushing hard to expand its presence in Europe under Purciarello.