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by Matthew Monks for Bloomberg.
One of Bank of America Corp.’s top financial services dealmakers in the US is leaving to head Amynta Group, an insurance distribution and services provider majority owned by Madison Dearborn Partners.
Investment banker Robert Giammarco has been named chairman and chief executive officer of New York-based Amynta, according to a statement Tuesday. Giammarco, who specializes in insurance companies, was most recently head of the Americas financial institutions group for Bank America, a position he held since 2014.
He will stay at Bank of America for a few more weeks, according to a memo obtained by Bloomberg sent to employees by Eric Bischof, head of investment banking for financial institutions at the firm. A spokesman confirmed the memo’s contents.
Giammarco spent two decades at Bank of America and Merrill Lynch, the investment bank BofA bought in 2009 during the financial crisis. He also did a stint starting in 2005 as chief financial officer at Odyssey Re Holdings Corp., a property and casualty reinsurer.
At Bank of America, Giammarco helped advise AmTrust Financial Services Inc. on its sale of a majority stake in what is now known as its Amynta business to Madison Dearborn in 2018. Other deals he has worked on include helping advise Sedgwick, an insurance claims management company, on the sale of a majority stake last year to the Carlyle Group LP in a $6.7 billion transaction; and advising Allied World Assurance Co. on its more than $4.5 billion sale to Fairfax Financial Holdings Ltd. in 2017.
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