Veteran Bank of America banker Wadih Boueiz has resigned after a career spanning 21 years.
Bank of America banker, Boueiz, was in charge of the bank’s global sovereign wealth funds and public pensions division.
Boueiz, known as Woody, started his career in New York in 1999 and then moved to London in 2007.
He made his name in the Middle East where he was until recently in charge of Bank of America’s corporate and investment banking across MENA– a job that has yet to be filled, the source said.
Bank of America to hire 50 bankers for Asia deal-making team in 2020
Earlier, Bank of America Corp will recruit about 50 bankers for its investment team in Asia this year.
It pushes to bulk up its deal making business and shore up revenues from the unit globally.
Bank of America’s (BofA’s) Asia headcount expansion comes against the backdrop of a subdued recruitment outlook for the broader investment banking business as global lenders grapple with cost pressures and slowing M&A momentum.
A third of BofA’s new hires in Asia will be senior bankers, including managing directors, for its merger and acquisitions advisory and capital markets businesses, mainly in Hong Kong, Singapore and Australia.
BofA’s hiring tally for the year could change depending on the deals momentum, said two of the people, who spoke on condition of anonymity as the plans are still confidential.