Bank of America names executives to accelerate AI adoption in markets

Bank of America named Kevin Milsom head of platforms AI transformation in its global markets group in an internal memo written by Ashok Krishnan, the unit’s head of platforms, on Friday, July 17, 2026. The move gives AI a formal leadership seat inside a business that depends on trading speed, client coverage and risk control, and it points to where banks expect the technology to produce measurable gains.

The assignment suggests Bank of America wants AI to do specific work inside markets, not sit on the sidelines as a lab project. In practice, that means faster information processing, workflow automation, quicker research synthesis, better client communication and tighter monitoring of market and regulatory risks across trading, sales, execution, operations and compliance.

The shift also reflects a wider Wall Street pattern. Large financial firms have been reorganizing around AI as they compete with one another and with fintech firms, while trying to keep model governance, privacy and operational resilience under control. Some banks have used generative AI for summarization and internal search, while others have pushed into forecasting, trade execution support, fraud detection and know-your-customer processes. The common thread is pressure for visible productivity gains, because even small improvements can move costs and turnaround times in a business that runs at scale.

Bank of America’s own recent disclosures show why the new appointment matters. In March 2026, the bank said AI and digital innovations fueled about 30 billion client interactions, a 14% increase from a year earlier. Its virtual assistant Erica surpassed 3 billion client interactions in August 2025, after crossing 2 billion in April 2024 and helping 42 million clients since launch. That history suggests the bank is now applying the same playbook, building AI into global markets with dedicated executives rather than leaving adoption to scattered teams.

The bank also paired the AI move with another leadership change around digital assets, naming Sonali Theisen head of global digital-assets platform. Together, the appointments show Bank of America is centralizing control over emerging technologies inside the markets franchise, turning AI from an experiment into a managed business function with accountability for output.