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Bank of America names AI and digital assets leaders in markets unit

Bank of America names AI and digital assets leaders in markets unit

Sonali Theisen will oversee the bank’s global digital assets platform, while Adam Dixon works with her on tokenized deposits and stablecoins and Kevin Milsom leads AI transformation.

Fact Check
Both a primary Reuters report and a syndicated secondary source confirm that Bank of America named Kevin Milsom to lead AI transformation across its markets platforms and Sonali Theisen to head the Global Digital Assets Platform. The claim's core assertions—Theisen over digital assets initiatives and Milsom leading AI adoption across the markets platform—are directly supported. The specific mention of 'stablecoins and tokenized deposits' as digital asset initiatives is a plausible elaboration not explicitly detailed in the cited sources, slightly reducing full certainty.
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Summary

Bank of America has made senior appointments in its global markets group as it expands work on artificial intelligence and digital assets. Sonali Theisen was appointed head of the bank’s global digital assets platform on July 18, overseeing the platform’s design, development, scaling and governance. She will work with Adam Dixon on tokenized deposits, stablecoins, digital collateral movement, crypto trade settlement and custody, while Kevin Milsom was named head of AI transformation. Earlier changes reported by Reuters also moved Amy Avery and her Analytics, Modelling & Insights team into the global platforms group to oversee data-driven insights across the company. The appointments sit within a broader effort led by Ashok Krishnan, head of platforms within the global markets group, to modernize technology and expand automation, including generative AI tools. The move underscores Bank of America’s push to make digital finance and AI core parts of its growth strategy as major financial institutions accelerate work on tokenized assets and stablecoins. Bank of America’s chief technology officer told Reuters late last year that the bank plans to spend billions of dollars on technologies such as artificial intelligence to improve bankers’ productivity and generate more revenue.

Terms & Concepts
  • stablecoins: Digital tokens designed to maintain a steady value, typically by being linked to a fiat currency or other reserve asset.
  • tokenized deposits: Bank deposits represented in digital token form, typically to enable faster settlement and programmable transfers.
  • custody: Safekeeping and administration of financial assets on behalf of clients, including digital assets in crypto markets.