BoA scales back LaSalle FX
The cuts come just over a month after the bank took management control of LaSalle Bank on October 1, and sees Bank of America reduce the recently acquired team by 75% on November 15. A source familiar with the matter said the bank has also reduced the LaSalle municipal bonds desk by 90%.
The desk closure comes amid wider cuts being made across the global markets and global investment banking business of BoA, which will result in 500 redundancies. These redundancies follow a 93% fall in net income
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