Michel Sindelar, the former head of Eastern Europe, Middle East and Africa (EEMEA) equities sales and then EMEA distribution at Bank of America Merrill Lynch (BAML), has left the bank. Sindelar is understood to have disappeared several weeks ago.
Bank of America didn't immediately comment on his exit, but colleagues confirmed his absence.
A protégé of BAML's global head of equities Fabrizio Gallo, with whom he formerly worked at Morgan Stanley, Sindelar joined BAML as a managing director (MD) in 2011, to head emerging market equities for CEEMEA, with responsibility for both sales and trading in the region. In 2016 he was promoted to head EMEA distribution, reporting globally to Soofian Zuberi.
Sindelar's disappearance follows suggestions that Bank of America recently made a small number of redundancies in Europe. It also follows various complaints of internal politics and earlier exits from the bank's equity derivatives operations in Europe. Insiders suggest that Gallo has too much control over strategy and is unwilling to cede power to his lieutenants, while Zuberi is said by some insiders to rule "with fear-mongering" and politics and to insist upon a strategy whereby staff in his team have a large number of client meetings ("around 20," says one) each month.
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