Banc of America hires Karp as head of financial sponsors

New York, Aug. 5 - Banc of America Securities said it hired Eric D. Karp as U.S. head of its financial sponsors group.

Banc of America also said that Brain J. Brille, currently its global head of healthcare corporate and investment banking will also take on the role of global head of the financial sponsors group. Karp, who will be based in New York, will report to Brille. Brille will report to Carter McClelland, president of Banc of America Securities.

Karp is a former global head of the financial sponsors group at J.P. Morgan and was most recently managing director of Access Private Equity, a New York-based firm that he co-founded.

"Financial Sponsors is an important and growing area for us where our strong product array, especially our market-leading position in leveraged finance, gives us a significant competitive advantage," said McClelland in a press release. "With their demonstrated leadership capabilities and extensive relationships in the financial sponsors arena, Brian and Eric will provide our clients with strategic ideas combined with innovative financing solutions to accelerate our growth."

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