Skip to content
Subscriber Only

BofA Merrill Lynch Said to Pare Tokyo Office Space to Cut Costs

  • Investment bank will vacate 12th floor of Nihonbashi building
  • Foreign brokerages have been reducing staff numbers in Japan

Bank of America Corp.’s Japanese brokerage unit plans to reduce office space in Tokyo to cut expenses, people with knowledge of the matter said.

Merrill Lynch Japan Securities Co., which rents six floors of the Nihonbashi 1-chome Mitsui Building, will vacate one level later this year, said the people, who asked not to be identified because the information is private.