Bank of America appoints head of digital assets and AI, accelerating the expansion of its crypto business.

Bank of America has appointed Sonali Theisen as head of its global digital assets platform and Kevin Milsom as head of AI transformation to advance the bank’s digital asset and AI strategic development. Theisen will oversee the design, development, expansion and governance of the bank’s digital assets platform, while continuing to serve as head of electronic trading and strategic investments for its fixed income, foreign exchange and commodities (FICC) business. Her key work includes integrating blockchain products into Bank of America’s existing financial market infrastructure, and collaborating with Adam Dixon, head of digital asset transformation, to advance tokenized deposits, stablecoins, digital collateral circulation, crypto trading settlement and custody services. Milsom will lead the application of AI across Bank of America’s global markets platform. Reports note that this move follows the trend of Wall Street financial institutions accelerating their expansion into digital assets and AI. Earlier, Vanguard launched a search for its first head of digital assets, and Morgan Stanley appointed Amy Oldenburg as head of digital asset strategy earlier this year to drive the integration of crypto assets and asset tokenization with traditional financial infrastructure.