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Bank of America cut these two banking MDs in London

As the dust settles on Bank of America's small pre-bonus job cuts last week, followed by its better-than-expected bonuses, details of the people evicted from their seats are emerging.

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Sources at the bank say they include at least two managing directors in the London banking team: Christos Tomaras and Aukse Jurkute.

Tomaras was a managing director in financial sponsors M&A, joined BofA in 2020 after a brief spell of self-employment. He previously spent nearly two years at Deutsche Bank and nearly two decades at Goldman Sachs.

Jurkute was the head of Benelux, Nordics and technology equity capital markets. She'd spent nearly 26 years at the bank, having joined in the days of Merrill Lynch.

Bank of America cut fewer staff than other banks last year, and relied instead on staff attrition as a way of cutting costs. But with attrition at half its usual rate and banking revenues back at levels last seen in 2013, it seemingly felt extra cuts were necessary.

Bank of America declined to comment.

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AUTHORSarah Butcher Global Editor

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