Bank of America is shaking up its global equities division and its European regional head is leaving, according to an internal memo
- Bank of America is shaking up leadership in its equities division.
- Julien Bahurel, head of the group in EMEA, is leaving the firm, and Martina Slowey has been appointed to replace him.
- Stuart Bourne, who previously ran prime brokerage in the Americas, is taking Slowey's old role as head of Global Equity Asset Management Services.
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Bank of America is shaking up the leadership of its equities division, and the head of the European region is leaving the firm.
Julien Bahurel, head of equities for Europe, the Middle East, and Africa, is leaving the firm, according to an internal memo sent on Tuesday by global equities head Fabrizio Gallo, and Martina Slowey has been appointed to succeed him.
"After seven years at the bank, Julien Bahurel has informed me of his decision to leave the company. His many contributions to our company have played a significant role in our success," the memo reads in part.
A Bank of America spokesman confirmed the contents of the memo, a copy of which was reviewed by Business Insider.
Bahurel will stay on with the firm for a few months to ease the transition.
Slowey, who previously ran Global Equity Asset Management Services, will be based in London and join the the regional executive committee, according to the memo. She joined BofA seven years ago after the London-based hedge fund Edoma Partners shuttered, and before that she worked at UBS for nearly 14 years and ran its prime brokerage business in Europe.
"Martina joined the firm in 2013 and in her most recent role as head of Global Equity Asset Management Services, she has been instrumental in providing global strategic direction for the Prime Brokerage business," the memo reads in part.
Stuart Bourne, head of prime brokerage in the Americas, is taking over Slowey's old role and will be based in New York, according to the memo. He also joined the firm in 2013.
BofA ranked fourth in equities revenues in 2019 with $4.5 billion. Amid heightened trading activity, the firm produced $2.9 billion in equities revenues for the first half of 2020, according to earnings results released last week, a 25% increase from the first half last year.
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