Bank of America (BAC) cut 150 junior investment banking roles, Reuters reported Tuesday, citing two sources familiar with the matter.
The bank will offer most staff other roles outside of investment banking, the report said.
Some junior bankers chose to leave instead of accepting other positions, the report said.
Bank of America didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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