BofA Hires From Goldman Sachs, Deutsche Bank in Trading Push

(Bloomberg) -- Bank of America Corp. hired Goldman Sachs Group Inc.’s head of European loan trading and Deutsche Bank AG’s head of sterling investment grade corporates as part of a push to grow in Europe.

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Amit Jain, who traded both par and distressed loans at Goldman Sachs, will join BofA’s special situations and distressed trading team as a director, according to people familiar with the matter. He will join the team led by Michail Zekyrgias in July and will be based in London, the people added, asking not to be identified discussing private information.

The hires are part of BofA’s push to grow and invest in its Fixed Income Currencies and Commodities business in EMEA. At the end of last year BofA’s Chief Executive Officer Brian Moynihan said the bank would devote more capital to trading as it seeks to grow market share.

READ MORE: BofA Appoints Gupta and Chepucavage to New Roles in Markets Unit

It will be Jain’s second tenure at BofA, where he was a vice president from 2005 to 2008, according to his LinkedIn profile. After that, he was a partner and portfolio manager at opportunistic credit fund Ironshield Capital Management until early 2021, when he joined Goldman Sachs.

Phil Gee, who had been at Deutsche Bank since 2022, will also join BofA in the summer as a trader in sterling corporate bonds in the EMEA credit trading team, according to two people familiar with the move. He will be a managing director, based in London.

Before Deutsche Bank, Gee was Citigroup Inc.’s co-head of investment grade flow credit trading for Europe.

Spokespeople for Goldman Sachs, Deutsche Bank and BofA declined to comment, as did Jain. Gee did not respond to a request for comment sent to his LinkedIn account.

--With assistance from Tasos Vossos.

(Updates with detail BofA’s of push further into trading in third paragraph. An earlier version of this story was corrected to remove and erroneous reference to a memo.)

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