Bryan Weadock, the cohead of global fixed income, currency and commodity sales at Bank of America Merrill Lynch, will not be returning to the bank after a period of leave.
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 ha
s seen at least 18 partner-level departures from key roles in the US and Europe in 2016.