There is a big change at the top of Bank of America’s markets business

Bryan Weadock, cohead of fixed income, currencies and commodities sales at the US bank, is going on leave, according to people familiar with the matter.

He will be replaced on an interim basis by Karen Fang.

Sanaz Zaimi, Weadock’s former cohead, will remain in place.

Weadock joined Bank of America in 2009 from JPMorgan. The Wall Street Journal reported at the time that the bank had handed Weadock a two-year pay deal that included a guaranteed $6 million for the first year.

His temporary exit follows a period of change at the bank’s markets business. 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 staff in its markets business.

Wall Street banks have been having a difficult first quarter. Choppy trading conditions have led many to predict double digit declines in first quarter revenue versus the first three months of 2015.

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