Bank of America has promoted Walter Muller to chief investment officer, replacing Ian Banwell, who has left to launch an alternative investments firm, Round Table Investment Management. Joe Price, chief financial officer of Bank of America, said: "Ian has done a great job in the years he has served as our CIO. Given our successful relationship and our strong confidence in Ian, we have chosen to make a minority investment in the new firm and intend to seed several of the funds."