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Bank of America hit by equity derivatives exits to Credit Suisse and Goldman Sachs

People keep leaving Bank of America's European equity derivatives business. Following several senior exits in the past few weeks, the team has been hit by further resignations.

The latest exits are understood to include Rene Maier, a managing director and head of equity derivative sales for Germany, Austria and Switzerland, and Louis de Vuyst, a French equity and fund derivative salesman.

Maier is joining Credit Suisse as head of head of structured equity derivatives sales for Germany. De Vuyst is said to be joining Goldman Sachs and is understood to have resigned last Friday.

Neither BofA nor Goldman Sachs responded to a request for comment.

Maier's move comes as Credit Suisse continues building out its equities business under Mike Stewart whom it hired from UBS in December 2016. As we reported last month, Credit Suisse lost several of its senior equity derivatives professionals last year, five of whom have now reconvened at hedge fund Pluris Capital.  Maier's arrival at CS comes as the Swiss bank has been building up its German equity derivatives team. It marks the third big hire Credit Suisse has made from Bank of America in the past year following the recruitment of Michael Ebert and Mike Herarty in the U.S. in August and October respectively. Stewart spent eight years at Bank of America and Merrill Lynch before joining UBS and appears to be recruiting his former colleagues.

Meanwhile, De Vuyst's arrival at Goldman marks a further expansion of the GS French equity derivatives business - although it's not clear whether he'll be in London or Paris. 

In other equity derivatives moves, Atish Mistry recently joined Natixis's equity solutions sales team after leaving Deutsche Bank. And Irene Brunner, a Swiss-based DB MD is understood to be off to BNP Paribas.

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AUTHORSarah Butcher Global Editor

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