Bank of America eliminates some investment banking roles, sources say

Bank of America eliminated some investment banking roles on Monday, including in New York, three sources familiar with the situation told Reuters. The latest cull comes weeks after Bank of America let go of staff in its investment banking and global markets divisions globally as part of an annual performance review process.

Why it matters

Investment banking activity had picked up in recent months, with Wall Street executives cheering the business-friendly tone of Donald Trump’s administration.