Bank of America has axed three investment bankers from its Brazilian unit and is in the process of eliminating seven from its brokerage in Chile as part of a series of global cuts, according to people with knowledge of the matter.
Bloomberg News reports that Pedro Bianchi, head of debt capital markets in Brazil, as well as Eduardo Almendra and Alexandre Mandel in Sao Paulo and George Costa e Silva, an investment banker focusing on Latin America in New York, left last week, said the people, who asked not to be identified discussing personnel matters.
Bank of America is also closing its onshore equities operations in Chile where the seven employees worked, the people said.
Bianchi declined to comment, as did Tom Rottcher, a spokesman for the bank. An employee who answered the phone at the lender’s Sao Paulo office said Almendra and Mandel no longer worked there. Almendra and Costa e Silva didn’t immediately respond to e-mails sent to their LinkedIn accounts.
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