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The head of electronic equities trading technology is leaving Bank of America

A senior technologist is understood to be on the way out of Bank of America. - Insiders say that Tim Lipscomb, head of electronic trading technology, handed in his resignation last week.

Technically Lipscomb is still employed by BofA while he sits out his notice period. He's expected to turn up somewhere else soon, however, and rumour has it that his next employer will be a technology company.

Bank of America declined to comment and Lipscomb didn't respond to a request for elaboration. He joined Bank of America in 1999 after graduating from the University of Southampton and initially worked as a developer on middle and back office technology systems in the UK and Hong Kong. Lipscomb then worked on Fidessa in the front office equities business, before specialising in electronic trading, based out of London. 

Revenue in Bank of America's global equities business fell 18% year-on-year in the first half of 2019, to $2.3bn.

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AUTHORSarah Butcher Global Editor

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