Bank of America cut around half a dozen Hong Kong-based investment banking jobs on Thursday, two people familiar with matter said, as part of the bank’s global downsizing in investment banking.David Lam, a managing director in BofA’s Greater China equity capital markets team, is among the bankers that were laid off, said the two people. Lam also confirmed his departure when contacted by Reuters.
Citi on Thursday trimmed four jobs from its China investment banking team, said one of the two and a separate person. The Wall Street bank is laying off less than 1% of its workforce globally, Reuters reported on Thursday, citing people familiar with the matter.
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