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Bank of America Corp. has appointed senior dealmakers Simbah Mutasa and Sjoerd van Hooijdonk to lead its Africa and Benelux investment banking franchises, deepening the US lender’s long-term strategy to expand its corporate and investment banking footprint across key international growth markets. 

Mutasa, who previously headed Bank of America’s investment banking operations in South Africa – the continent’s largest and most industrialised economy – will now oversee deal-making across Africa. His expanded mandate was communicated in an internal memo reviewed by Bloomberg. Matt Cannon, head of EMEA investment banking, said Mutasa will “drive the continued growth of our investment banking franchise across the African region.” 

Van Hooijdonk, currently leading the bank’s investment banking business in the Netherlands, has been promoted to head the Benelux franchise, extending his remit to Belgium and Luxembourg. The appointment aims to strengthen Bank of America’s regional presence and deepen client engagement across the three markets. 

Bank of America declined to comment on the appointments. 

The promotions reflect Bank of America’s sharpened focus on international growth, particularly in Africa, where demand for infrastructure financing, capital markets activity, and cross-border advisory continues to rise despite geopolitical tensions in the Middle East. 

Africa’s demographic trajectory – the fastest-growing population globally – is attracting investors seeking exposure to critical minerals, renewable energy, digital infrastructure, fintech innovation, and expanding consumer markets. These trends have strengthened the continent’s appeal for global investment banks looking to build long-term franchises.

Bank of America has recently participated in several high-profile African transactions. The lender acted as joint placement agent on Dangote Fertiliser’s $750 million private placement and served as one of the advisors on the sale of East African Breweries’ stakes to Japan’s Asahi Group. 

In the Benelux region, Bank of America’s expanded leadership aims to consolidate its position in a market known for cross-border corporate activity, advanced financial markets, and strong multinational presence. The bank has advised on several major transactions in the region, including JDE Peet’s acquisition by Keurig Dr Pepper for $23 billion, ASML’s partnership with Mistral AI, and Just Eat Takeaway.com’s acquisition by Prosus. 

The appointments align with Bank of America’s international expansion under the leadership of Bernie Mensah, President of International, with non-US operations accounting for roughly 30 per cent of the bank’s business. 

By elevating Mutasa and Van Hooijdonk, Bank of America is signalling its intent to capture a larger share of deal flow in regions where economic transformation, demographic growth, and corporate restructuring are creating new investment banking opportunities.