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Bank of America has appointed separate executives to lead its digital assets and artificial intelligence programs as it expands both technologies across its global markets business. The bank named Sonali Theisen head of its global digital assets platform and appointed Kevin Milsom head of AI transformation, according to internal memos reported by Reuters and Bloomberg.
The appointments place blockchain infrastructure and AI integration under dedicated leadership as major banks expand tokenization, custody, settlement, trading, and market operations.
Theisen will oversee the design, development, governance, and expansion of Bank of America’s global digital assets platform. She will also retain her existing responsibilities. She currently leads electronic trading and strategic investments within the bank’s fixed income, currencies, and commodities division.
Theisen will work with Adam Dixon, who remains responsible for the bank’s digital asset transformation strategy. His remit covers tokenized deposits, stablecoins, digital collateral, crypto settlement, and custody. Meanwhile, Milsom will lead efforts to integrate artificial intelligence across global markets. The bank aims to apply AI to trading, risk management, and operational processes.
Could the next phase of digital finance develop quietly inside major banks instead of through separate crypto businesses?
The appointments follow a wider shift across Wall Street, where financial institutions are moving blockchain projects into core business functions. Earlier this month, Vanguard began recruiting its first digital assets head to develop a cryptocurrency strategy for wealth management clients.
Morgan Stanley has also expanded its digital asset strategy after advancing spot Bitcoin and Solana exchange-traded fund initiatives. Beyond banking, companies are exploring how AI can support digital asset trading, tokenization, custody, and financial market analysis.
A Polygon Labs team member said on X that Bank of America’s platform would span stablecoins, tokenized deposits, custody, and crypto settlement. The post referred to internal memos reported on July 17. The memos gave Theisen an added mandate and named Milsom head of platforms AI transformation.
Also Read: Bank of America Unifies Digital Assets and AI in New Strategy Role
The appointments arrived as Bitcoin traded near $65,000 on July 20, more than $50,000 below its level one year earlier. Separate social media posts linked the staffing changes to a claim that $6 trillion in bank deposits could move into stablecoins.
Bank of America Chief Executive Brian Moynihan made a related comment during the bank’s fourth-quarter earnings call on January 14. Moynihan said deposits could migrate if stablecoins could pay interest. The GENIUS Act does not permit interest payments on stablecoins.
The estimate also predates the July appointments. An April 2025 Treasury Borrowing Advisory Committee presentation placed potentially exposed transactional deposits at about $6.6 trillion.
Bank of America’s new leadership structure brings digital assets and artificial intelligence into its core global markets strategy. The appointments support wider use of stablecoins, tokenization, custody, crypto settlement, and AI tools as major financial institutions modernize their market infrastructure.
