Sep
27
Wall Street Shrinks Further in Asia With Goldman, BofA Cuts
By-
Bank of America said poised to cut senior bankers in Asia
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Goldman Sachs also said to be planning steep reductions
Even a record acquisition spree by Chinese companies isn’t enough to ease pressure on investment banks to cut costs in Asia, with Goldman Sachs Group Inc. and Bank of America Corp. becoming the latest firms to prepare job reductions.
Bank of America plans to eliminate about a dozen senior positions at its corporate and investment-banking operations in Asia, the second time the U.S. firm is cutting jobs in the region this year, according to people with knowledge of the matter. Goldman Sachs plans even more sweeping cuts, with about a quarter of the positions at its investment bank in Asia outside Japan to go later this year, a person with knowledge of the matter said last week…
Wall Street Shrinks Further in Asia With Goldman, BofA Cuts
