BofA Said to Cut Dozens of Traders, Bankers as Revenue Drops

Updated on
  • Allison Ferreira, Frank Laino said to be among the departures
  • CEO Moynihan said this month that trading revenue was down

A Bank of America branch in Charlotte, North Carolina.

Photographer: Chris Keane/Bloomberg

Bank of America Corp. is cutting dozens of jobs across the firm’s trading and banking divisions after Chief Executive Officer Brian Moynihan pledged to trim expenses amid a decline in trading revenue, according to two people with knowledge of the plans.

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