Bank of America’s Bryan Weadock is stepping down from his role as co-head of global fixed-income sales to take personal leave, joining a growing number of senior Wall Street bond executives moving on amid an industrywide slump.
Bloomberg News reports that Karen Fang, head of cross-asset strategies and solutions, will run fixed-income sales in the Americas on an interim basis and report to Sanaz Zaimi and fixed-income trading co-chief Jim DeMare, according to a staff memo obtained Wednesday by Bloomberg.
Zaimi, who was Weadock’s co-head, is now the unit’s sole leader. Jessica Oppenheim, a spokeswoman, confirmed the memo’s contents.
In the meantime, Bloomberg also reports that Barclays’ Japan Chief Executive Officer Eiji Nakai will resign later this year, according to internal memos obtained by Bloomberg.
Nakai, 52, who is also the firm’s Asia Pacific co-CEO, will leave the bank on June 30, according to one of the memos, while another showed that a replacement will be announced in “due course.” The contents of the memos were confirmed by Kyota Narimatsu, a Tokyo-based spokesman for Barclays.