Sherman will join the firm in September, reporting to CTO Marc Gordon and taking on responsibility for strategy, architecture, design and build, operations, product management and project delivery of the technology infrastructure supporting the businesses.

Sherman joins BofA after 10 years at Morgan Stanley, where his most recent position was managing director, chief technology officer of the Americas enterprise infrastructure organisation. Before Morgan Stanley he held technology-related roles at Chase Bank.

Says Gordon: "George is a talented technology leader who will further enhance the bank's world-class technology infrastructure, allowing us to become better connected with our clients. His experience in the global markets arena will position our team to work more closely with our business partners to ensure an excellent client and customer experience and strengthen our operations across the globe."

Sherman is the second tech heavyweight to join BofA this year. In January the bank hired former Goldman Sachs chief technology officer Michael Dubno to head up its global markets and research technology business.