One of Bank of America's top fixed income staff went on leave, and now he's not going back
REUTERS/Brendan McDermid
The bank announced in March that Weadock would go on leave, and in a memo sent to staff Friday Tom Montag, chief operating officer at the bank, said that he would not be returning.
"He was a valued member of our leadership team, and the FICC business benefited from his expertise and deep client relationships," the memo said. "Bryan was a positive force in our lives and his leadership and contributions were appreciated and will be missed."
Sanaz Zaimi, who had been Weadock's cohead and became sole head on an interim basis when he went on leave, now has the job full time. Karen Fang will continue as head of Americas FICC sales.
Weadock initially went on leave at a time of flux in Bank of America's senior ranks. Kevin Connors, the global head of foreign-exchange sales at Bank of America Merrill Lynch, left the bank in early March.
Not long thereafter, the bank cut jobs in its markets business. And then in mid-March the bank announced that Jim Probert was retiring as head of global capital markets and would be replaced by AJ Murphy.
Bank of America isn't the only bank to see turnover in sales and trading of course. Business Insider reported earlier Friday that Credit Suisse had been cutting jobs in New York.
And earlier in the week, we took a close look at the changes taking place in Goldman Sachs' securities business. That unit has seen at least 18 partner-level departures from key roles in the US and Europe in 2016.
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- A millennial manager went viral after her Gen Z assistant picked up a work call while at the hair salon: 'Go off queen'
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings