Grifols (NASDAQ:GRFS) has appointed Rahul Srinivasan, a senior executive from Bank of America, as its new chief financial officer.

Srinivasan, who previously led Bank of America's EMEA leveraged finance and capital markets divisions, will assume his new role on September 16.

He replaces Arturo Arroyo, who is retiring after a 17-year tenure as CFO.

The appointment is part of Grifols' efforts to strengthen investor confidence.