BofA loses 2 senior executives

3 January 2007

The Bank of America's corporate and investment bank has lost two senior executives.

The global head of equity financial products, Chris Innes, and Pat Augustine, global head of structured products, have left the bank as a part of its reorganization, reports Reuters.

The restructuring will see the equity derivatives, convertible bonds, and prime brokerage group merge with cash equities business under Peter Forlenza.

The helm of global structured products will pass to Chris Hentemann, the previous co-head of global structured finance.

The global restructuring also continued with the completion of the sale of Bank of America (Asia) to the China Construction Bank. The sale was initially announced last year with China Construction Bank paying HK$9.7 billion (US$1.2 billion) in the deal.

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