Bank of America is accelerating its preparations for Brexit by relocating three senior UK-based executives to Paris, as it beefs up its investment banking operations in the French capital.
Sanaz Zaimi, BofA’s head of global fixed income, currencies and commodities (FICC) sales, will transfer to Paris to assume an additional role as head of the US bank’s expanded French operation, according to an internal memo seen by the Financial Times. [...]
BofA, which employs about 4,500 people in London, has chosen Dublin as the main headquarters for its post-Brexit EU operations and named former group chief financial officer Bruce Thompson to lead that office, which will mostly house staff working in finance, risk, compliance, audit and wholesale credit. [...]
One senior BofA executive in London said the bank appeared determined to move faster than its rival US banks in pressing ahead with its Brexit plans. Goldman Sachs told the FT last month that it had already moved more than half the 100-200 investment bankers and professionals due to leave the City after Brexit. [...]
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