Banking News

BAML loses its head of Europe due to Brexit frustration

BAML loses its head of Europe due to Brexit frustration

(19 March 2018 – UK) Alex Wilmot-Sitwell, Bank of America Merrill Lynch’s (BAML) European head has resigned from the bank throwing the banks Brexit planning and leadership into turmoil.

Mr Wilmot-Sitwell had been named as the chairman of the Dublin-based broker dealer that will take over BAML’s EU markets business post the UK leaving the bloc next year. Mr Wilmot-Sitwell had been the banks president for Europe, the Middle East and Africa for the past six years.

Following Brexit, BAML is splitting its existing businesses in London into a broker dealer and a banking business in Dublin to serve EU clients, this will be supported by an enhanced trading operation in Paris. The London-based business will continue to serve UK clients.

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