BoA-Merrill India vice chairman to leave firm

The vice chairman of Bank of America-Merrill Lynch's Indian investment banking unit is leaving the Wall Street bank, two sources with direct knowledge of the matter told Reuters.

FP Archives|Dec 20, 2014, 05:59:19 IST

Mumbai: The vice chairman of Bank of America-Merrill Lynch's Indian investment banking unit is leaving the Wall Street bank, two sources with direct knowledge of the matter told Reuters.

Bala Swaminathan, who joined Merrill in 2010 from Standard Chartered , plans to set up his own financial services company, one source said.

[caption id="attachment_163057" align="alignleft" width="380" caption="Bala Swaminathan, vice chairman of BoA-Merrill Lynch's Indian investment banking unit, is leaving the bank.Reuters"][/caption]

A spokeswoman for the bank contacted by Reuters declined to comment and Swaminathan was not immediately available.

Bloomberg and the Economic Times newspaper also reported Swaminathan is planning to quit, citing sources.

The newspaper also said Swaminathan denied he is leaving.

Reuters

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