Bank of America has appointed Michael Dubno – Goldman Sachs’ former chief technology officer – to replace Chris Augustin as its head of global markets and research technology.

Mr Dubno, who joined BoA yesterday, is credited with pioneering the use of the internet at Goldman Sachs during his tenure and was instrumental in the development of the bank’s first client-facing website, the GS Financial. Mr Dubno was Goldman Sachs’ CTO between 2002 and 2005, having first joined the bank in the mid-eighties as a consultant programmer. Subsequently, in 2008, he took up the chief investment officer role at Cerebellum Capital, where he had a hand in the creation of a quantitative hedge fund.

"He [Mr Dubno] has an exceptional track record as an innovative and accomplished technologist," Jim Kelly, BoA’s head of global banking, markets and wealth management technology and operations, said in an internal memo.