Bank of America Merrill Lynch (BAML) has downsized its Asia-Pacific commodities team, Reuters reports. It has terminated three senior executives and a junior staff member.
The four, all sales and marketing personnel, include Australia-based managing director Peter Beaumont, and directors Liu Bing and Hiro Kitakata from the China and Japan offices, respectively. A replacement for Hiro has been appointed, but the other three departures are part of BAML’s restructuring.
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