The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

People moves: BofA wields the hatchet

Commiserations to all those made redundant by Bank of America this week. The weeklyFiX was sent a list of names of some of those let go in London and New York. Presumably other centres were also affected. I’ll leave it to others to pick over the bones on this one, but really there’s no need to compound the misery of those who have just lost their jobs by naming them.

The bank declined to detail how many in FX were impacted. “We’re not breaking out figures by line of business so I’m not in a position to confirm a total for FX,” says a spokeswoman. “As announced on December 11 2008, Bank of America expects to eliminate 30,000 to 35,000 positions over the next three years, reflecting the merger with Merrill Lynch and the weak economic environment, which is affecting the level of business activity.”

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree