A top stock-trading exec is leaving Bank of America for Mizuho as the Japanese bank tries to ramp up its US equities business
Mizuho has hired a senior exec from Bank of America to help ramp up its US equities presence.
Robert Wright, formerly the head of US high touch trading at Bank of America, is joining Mizuho to head up US execution services, according to people familiar with the matter.
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Mizuho is ramping up its US stock-trading operation, and it’s adding a senior exec from Bank of America to help with the push.
Robert Wright, a top cash equities trader at Bank of America, is joining Mizuho to lead US equities trading, according to people familiar with the matter.
Wright, most recently as the US head of high-touch trading, spent more than two-decades at the US bank — starting with Merrill Lynch in the late 1990s.
Representatives for Mizuho and Bank of America declined to comment. Wright also declined to comment
Wright will report to Darlene Pasquill, whom Mizuho in October hired as the head of its US equities operation. She was previously the head of equities in the Americas at Credit Suisse.
The Japanese bank isn’t currently a top-10 player in equities, according to industry data consultant Coalition.
For Bank of America, the fourth-ranked equities house in 2018, Wright’s departure adds to a growing list of senior exits in the division this year.
Lucy Baldwin, a rising star managing director in the bank’s London office, left in February to run global equity sales at Credit Suisse. Bill Hillegass, the head of equity derivatives in the US, also left that month and joined hedge fund LMR Partners.
Several other directors and managing directors left in February as well, Bloomberg previously reported.
$5 billion hedge fund LMR Partners poached Bank of America Merrill Lynch’s top equity derivatives boss in the US
Credit Suisse …read more
Source:: Business Insider