Bank of America cut a head of equity derivatives trading in London
Last week, those cuts came to the bank's European equities sales and trading business. Sources say that Sasha Diklich, the bank's head of micro derivatives trading in London left after 10 years, along with Rafael Oskoui, a senior trader on an internal hedging desk also known for his London garden.
Bank of America declined to comment. Its equities sales and trading revenues fell 11% in the first half of 2023, a decline that the bank said was "driven primarily by weaker trading performance in derivatives."
BofA's London equities business also made numerous cuts in May.
In fixed income sales and trading, the bank has doubled its EMEA salesforce since 2021. The hires there seem to be paying off: BofA's fixed income revenues were up 18% year-on-year in the second quarter, despite double-digit percentage falls elsewhere.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email email@example.com. Signal also available.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)