Bank of America (BofA) has confirmed that Larry Baum, head of spot, forward and prop trading, and Alan Circle, formerly global head of institutional sales in London and more recently covering clients for the institutional sales desk in New York, have both left the organisation.
According to a spokesperson for BofA, both positions have been eliminated and as such, replacements will not be named. Responsibilities have been absorbed by existing members of the global foreign exchange management team. Circle left in early May, while Baum left more recently.
Baum joined Bank of America in spring 2002 (see Profit & Loss, April 2002) from Barclays Capital where he was managing director for all Americas FX trading. Prior to his five years at Barclays, he spent 10 years at Citigroup, leaving as an FX prop trader.