BofA break-up

Cutbacks in Bank of America’s London-based credit research team and the departure of John Brewer from his position as head of European credit trading have given rise to speculation about the bank’s commitment to its credit function in Europe. Simon Boughey reports

The recent sidelining of John Brewer from his role as head of European credit trading at Bank of America (BofA) in London comes on the heels of a series of defections from the bank and has aroused suspicions that the bank may have given up on credit flow trading in London.

According to a BofA spokesperson, Brewer is “technically still an employee”, but sources confirm he is no longer at his desk. It is thought to be only a matter of days before his departure from the bank becomes official. In