People News: Bank of America, JPMorgan

Exit Sign

Bank of America’s Scott Bacigalupo, head of Americas cash equity sales and trading, has become the second senior Merrill Lynch stocks veteran to depart the firm in a week.

Bloomberg News reports that Bacigalupo, 43, will take time off before deciding on his next endeavor, according to a staff memo sent Tuesday describing a broader reorganization in the unit.

Bacigalupo oversaw about 60 traders and others who execute orders and serve institutional clients. Last week, Bank of America told employees that his boss, Henry Mulholland, equities head for the Americas and a 25-year veteran of Merrill Lynch, was leaving.

In the meantime, Reuters reports that JPMorgan Treasurer Craig Delany, who also oversees the bank's Chief Investment Office, is leaving but will stay on until a successor is on board, the Wall Street Journal reported, citing an internal memo.

Delany, named treasurer of the bank in 2014, will retire in the coming months to spend more time with his family, the Journal said.

BofA Loses Another Senior Equities Executive From Merrill Lynch

JPMorgan Treasurer Craig Delany to step down - WSJ

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