Bank of America's top hedge fund sales guy in Europe resigned

Malcolm Pratt is no longer to be found at Bank of America. Having joined from Goldman Sachs in 2017 and risen to become head of hedge fund sales trading at BofA, Pratt has resigned. He's joining Clear Street instead. 

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Bank of America declined to comment on Pratt's exit, and Pratt himself didn't respond to a request to comment. It's thought that he will be helping to set up the execution business at Clear Street, but this hasn't been confirmed. 

Clear Street is a technology provider to brokerage houses with the aspiration of modernising trading infrastructure all the way from clearing and settlements to trading data. Self-described, too, as an "independent prime broker," it launched in the UK in December. A funding round two years ago gave it a valuation of $2bn. Equity in the company could be lucrative. 

Pratt isn't Clear Street's only big hire. Matthew Cyzer, the former co-head of European equity execution services at Goldman Sachs also joined earlier this month as global head of markets for Europe. Pratt presumably worked with Cyzer at Goldman, and it's thought that he will be on Cyzer's team. More hires seem very likely.

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