BofA’s Findlay Resigns as U.K. Co-Head of Investment Banking

  • Michael Findlay will pursue a career outside of the industry
  • Ian Ferguson said to become sole head of U.K., Ireland group

Michael Findlay, Bank of America Corp.’s co-head of investment banking for the U.K. and Ireland, is planning to leave the lender to pursue a career outside of the industry, the firm said Friday.

Findlay, who resigned this week, will join a U.K. company, people familiar with his plans said, asking not to be named because the details aren’t public. Findlay’s new position couldn’t be immediately confirmed. Bank of America declined to comment further on his departure. Findlay directed a request for comment to the bank.

Ian Ferguson, the other co-head of U.K. and Ireland, will continue as sole leader of the region’s investment banking group when Findlay leaves at the end of the month, one of the people said. Findlay, who is also listed as a board member of U.K. Mail Group Plc, has been with Bank of America for about 15 years.

Findlay isn’t the only banker switching roles. Marco Morelli, who oversaw Bank of America’s operations in Italy, was named chief executive officer of Banca Monte dei Paschi di Siena SpA on Wednesday. U.S. insurer and investment firm Voya Financial Inc. said Friday it hired Maggie Parent from Deutsche Bank AG.

Bank of America ranked fifth in advising on mergers and acquisitions in Europe this year, according to data compiled by Bloomberg. That includes a role advising Bayer AG on its $66 billion agreement to buy Monsanto Co., the largest takeover of 2016. In the U.K., the bank advised Deutsche Boerse AG on its merger with the London Stock Exchange Group Plc.

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