Bank of America announced two strategic hires to further strengthen its Global Payments Solutions (GPS) leadership team in Asia Pacific and Latin America.

Phil Carmalt will join Bank of America in late May as Head of Asia Pacific Global Payments Solutions (GPS) Product.

Based in Hong Kong, he will report to Greg Kavanaugh, Head of Global Payments Solutions Product, and Winnie Chen, Head of APAC Global Payments Solutions.

In his new role, Phil will lead the region’s product management team, driving the execution of GPS’s product strategy and vision across channels, as well as cash and liquidity products.

He will also form part of the Senior Leadership Team for GPS in Asia Pacific, collaborating closely with partners across the franchise to deliver innovative and client-focused payment solutions.

Phil brings with him over two decades of financial services experience, having held various leadership roles in Hong Kong, Singapore and the United Kingdom.

He possesses deep expertise in transaction banking, shaped by his diverse background spanning technology, programme management, business management, product development, client management, innovation and sales.

Most recently, he served as Head of Cash & Trade Product at DBS Hong Kong.

Additionally, Gabriel Andrade joined Bank of America in late February as Managing Director and Head of Global Payments Solutions for Mexico.

Based in Mexico City, Gabriel is tasked with spearheading the GPS strategy in the country, overseeing payment and receivable solutions, liquidity services, and Trade & Supply Chain Finance.

He reports to Annali Duarte, Head of Latin America Global Payments Solutions, and is a member of the Mexico Country Leadership Team, reporting to Emilio Romano, Country Executive for Mexico.

Gabriel brings more than 30 years of leadership experience in the Mexican banking sector.

Prior to joining Bank of America, he held several senior roles at Citibanamex, including Head of Transaction Banking Sales, Cash Management Head for all businesses, and COO of Mexico’s Anti-Money Laundering Office.

Since 2020, Gabriel has successfully operated as an entrepreneur and independent business consultant.

He holds a Bachelor’s degree in Business Administration from C.E.S.A. in Bogotá, Colombia, a Master’s degree in International Management from the University of Saint Thomas, and an MBA from Duke University’s Fuqua School of Business.

Featured image credit: edited from freepik