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Bank of America Is Avoiding Investment Bank Job Cuts — for Now

Bank of America Corp. won’t cut jobs in its investment banking unit despite the recent slowdown and plummeting fees tied to deals, according to Chief Financial Officer Alastair Borthwick.

The bank isn’t planning reductions “at this stage,” Borthwick said on a call following third-quarter results. The firm continues to invest in its people to help capture market share, he said.