more-top-execs-depart-bank-of-americamerrill-lynch

More top execs depart Bank of America-Merrill Lynch

M&A head Kalpana Desai announces she will be leaving just days after Margaret Ren departs the firm.

Kalpana Desai, head of mergers and acquisitions for Asia-Pacific ex-Japan, will be leaving Bank of America-Merrill Lynch after a transition period of a few weeks, according to sources and an internal memo seen by FinanceAsia. The announcement of her departure comes only a week after veteran China banker Margaret Ren left the firm.

A string of high-level bankers have left Merrill Lynch since Bank of America acquired the firm on January 1, which isn't exactly surprising in the wake of a merger. Add in that BoA has taken US government money and is now saddled with restrictions on pay and bonuses as a result, plus a global recession that is...

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