Bank of America has recruited more than a dozen bankers to its global foreign exchange business in London, New York, Hong Kong and Tokyo as part of an aggressive expansion drive.

Alan Collins has been hired as a managing director to run the global foreign exchange business in Europe. He joins from MarketAxess, where he was president of European operations. Collins, who has also worked in the foreign exchange and commodities division at JP Morgan Chase, will leverage off Bank of America's strength in the US to build the bank's FX platform in Europe.