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Some
bankers handling clients coverage and deals will be let go, with
cuts expected in Hong Kong, Singapore and Japan, BofA's big
centers in Asia, the people said, adding that the total number
of jobs cuts hasn't been finalised.
A Hong Kong-based spokesman for Bank of America declined to
comment. Sources declined to be identified as the information is
not public.
Bank of America's job cut plans comes after Reuters reported on
Friday that Goldman Sachs <GS.N> is planning to cut almost 30
percent of its 300 investment banking jobs in Asia outside Japan
in response to a slowdown in activity in the region.
(Reporting by Saeed Azhar, Anshuman Daga and Sumeet Chatterjee;
Editing by Denny Thomas and Louise Heavens)
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