It’s hard for me to believe that anyone missed this, but just in case: Christian Meissner, investment banking chief is set to depart from the company at the end of the year, after a month long dispute with the management.
Bank of America parted company with its investment banking chief Christian Meissner after months of disagreement over what Mr Meissner perceived as the bank’s increasing conservatism and diminished risk appetite.
Can’t say I blame him. Now when our competition is overtaking us in every segment (especially IB), common sense would be to move forces into innovation and take a bolder approach to risk, but no, the management wants to lay low.
https://www.ft.com/content/f7e87014-bd16-11e8-94b2-17176fbf93f5
For those that aren’t subscribed to FT here’s the short version of the story on the NY times site:
https://www.nytimes.com/2018/09/21/business/dealbook/bank-of-america-investment-banking.html