Bank of America senior South Korea, Australia bankers to leave: IFR
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
The Bank of America building is shown in Los Angeles, California October 29, 2014. REUTERS/Mike Blake/File Photo
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
HONG KONG (Reuters) - Bank of America's head of South Korea investment banking Peter Kim is leaving the bank, IFR reported, citing people with knowledge of the matter, as part of the U.S. bank's move to cut some investment banking jobs in Asia.
Ben Stewart, senior manager of debt capital markets and syndicate in Australia, and Niraan De Silva, head of Southeast Asia equity capital markets and head of equity-linked capital markets in Asia Pacific, are also leaving, Thomson Reuters publication IFR reported.
IFR reported last week that Guy Foster, Bank of America's head of equity capital markets in Australia, had left.
Bank of America declined to comment.
Bank of America is set to cut about two dozen investment banking jobs in Asia, including some top dealmakers, sources told Reuters on Monday, as a slowdown in business forces western banks to cut costs.
The latest cuts in Asia come against the backdrop of a tough dealmaking environment as well as a slowdown in major economies including in China, Hong Kong and Singapore. Western banks' business has also been eroded by local competitors.
(Reporting by Frances Yoon for IFR; Writing by Sumeet Chatterjee; Editing by Mark Potter)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Teva Pharma (TEVA) Appoints New Global Generic Medicines Group CEO; FY16 Guidance Affirmed
- California prepares to fight Trump on immigration, other issues
- Apple Watch sales to consumers set record in holiday week, says Apple's Cook
Create E-mail Alert Related CategoriesReuters
Related EntitiesBank of America
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!