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Bank of America said to have let bankers go

Departure

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.

Trader arrest said linked to Russian probe of Deutsche Bank

Moscow Traffic

A former shareholder of Promsberbank, a lender whose license was revoked last year, was arrested in Moscow earlier this month as regulators probe trades handled by Deutsche Bank that may have been used to launder money, according to two people with knowledge of the investigation.

Merrill Lynch wins bond case

Daniel Craig As James Bond

Bank of America’s Merrill Lynch units won a case on appeal to Japan’s highest court against a ruling that they must pay damages to failed consumer lender Takefuji Corp. for their role in a bond transaction.

The robots are forcing you to get better at your job

Terminator

Increasingly complicated regulation is bulking out the pay packets of those who keep companies on the straight and narrow, according to research shown exclusively to City A.M., but advances in technology could force a shakeup in what the typical role looks like.

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