Executive moves: Bank of America, JPMorgan Chase, Cullen/Frost

Cullen/Frost Bankers announced this week that CFO Jerry Salinas will retire at the end of this year after nearly four decades with the San Antonio-based company.

Salinas climbed the ladder of financial roles at the $49.5 billion-asset bank before landing in the C-suite in 2015.

"If you think of any major initiative that the company has undertaken in the past four decades — acquisitions, major transactions, our expansion projects — Jerry played an important role in all of them," said Chairman and CEO Phil Green in a prepared statement. 

Dan Geddes, Frost's San Antonio region president, will immediately step down from his current position as he transitions to succeed Salinas on Jan. 1, 2025. Geddes led the bank's major build-out in Houston several years ago, which brought in enough profit last quarter to fund similar expansions in the Dallas and Austin markets.

Matt Henson, who currently acts as director of external reporting, will take on the role of chief accounting officer upon Salinas' departure.

—Catherine Leffert

Bank of America's head of Americas equity research is departing after more than two decades with the firm and predecessor Merrill Lynch. 

Daire Browne plans to pursue opportunities outside the company, according to a memo reviewed by Bloomberg News. Vikram Sahu, head of global equity research, will act as interim head of Americas equity research, the memo showed. Browne had reported to Sahu. 

A representative for the Charlotte, North Carolina-based bank confirmed the contents of the memo from Candace Browning, head of global research. 

BofA has endured a string of departures from its U.S. equity research group this year. In April, Jefferies Financial Group hired Julien Dumoulin-Smith, one of the best-known utilities and renewables analysts on Wall Street. Top-rated oil and gas analyst Doug Leggate left for Wolfe Research in June. —Katherine Doherty, Bloomberg News

Mizuho Financial Group is hiring former Ontario Teachers' Pension Plan executive Karen Frank as a senior advisor for its Europe, the Middle East and Africa business, according to people familiar with the matter.

Frank will help the Japanese bank develop their EMEA strategy after the acquisition of Greenhill and integrate the M&A advisory firm's resources in the region, said one of the people. Her appointment will likely be announced in the coming days, the people said, asking not to be identified discussing confidential information.

Frank and a representative for Mizuho declined to comment.

Frank was executive managing director and global head of equities at OTPP until December 2022. Prior to that, she was chief executive officer of Barclays' private banking business. Starting her career in private equity in 1992, she currently serves as a non-executive director at market maker Flow Traders, according to her LinkedIn profile. She became the chair of British Heart Foundation's board of trustees in June.  — Swetha Gopinath and Pamela Barbaglia, Bloomberg News