A wave of senior departures, lost market share, and a 20% drop in fees: A dismal year in investment banking at Bank of America (BAC)
Business Insider -

Bank of America Merrill Lynch's investment banking woes continue to mount.

While overall profits in the third-quarter soared 32% to $7.2 billion, investment banking fees in the firm's Global Banking division fell 20% to $643 million.

It was the continuation of a dismal year for the unit, which has lost market share to its top rivals and dropped in the league tables.

The bank has also experienced a wave of senior departures, with more managing director exits in investment banking since 2017 than...


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