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Bank of America's (BAC.N), latest cull has eliminated 150 jobs of junior bankers at its investment bank, two sources familiar with the matter told Reuters on Tuesday.
The second-largest US lender will offer the vast majority of junior bankers, which include associates and analysts, other roles outside of investment banking, the second source told Reuters.
However, some junior bankers have opted to leave rather than take other roles, the first source said.
The sources declined to be identified because the information is not public.
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