A number of Bankof America Corp. senior bankers in Asia-Pacific are leaving thebank amid job cuts in the company's investment banking business in the region,Reuters reported Sept. 28, citing the IFR.
Peter Kim, head of investment banking in South Korea, andBen Stewart, senior manager of debt capital markets and syndicate in Australia,will leave the bank, the IFR reported,citing "people with knowledge of the matter." Niraan De Silva, headof Southeast Asia equity capital markets and head of equity-linked capitalmarkets in Asia-Pacific, will also leave the bank.
Guy Foster, head of equity capital markets in Australia, hasalready left, according to an earlier IFR report.
The U.S. bank is expected to about 24 jobs in Asia, includingsome top dealmakers, amid a slowdown in business and increasing competitionfrom local banks.
Bank of America declined to comment on the report.