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Paris or Frankfurt? BofA Executives Debate Trading Hub Location

  • One plan would put bond trading in France, equities in Germany
  • Dublin, already embraced by CEO Moynihan, is also in the mix
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Bank of America Debates Paris Versus Frankfurt

Bank of America Corp.’s investment bank executives are divided over where their European Union trading hub should be after Brexit, according to people with knowledge of the matter.

Equities head Fabrizio Gallo has pushed for Frankfurt as the base for traders working with EU clients, while his fixed-income colleagues Sanaz Zaimi and Bernard Mensah have favored Paris, the people said. Some trading operations will be forced to leave London when the U.K. exits the bloc, currently set for early 2019.