Dealmaker Michael Rubinoff has left Bank of America Corp (BAC.N) in the latest high-profile departure from the company's corporate and investment banking unit.
Rubinoff provided merger advice to many of the largest financial institutions and assisted Bank of America Chief Executive Brian Moynihan in the sale of the company's own non-core assets, according to a memo sent to employees on Tuesday by Tom Montag, co-chief operating officer.
Rubinoff has taken a job with the Safra family, a source familiar with the situation said.
The departure follows the recent loss of two prominent former Merrill Lynch & Co executives, Andrea Orcel and Jim Forbes, to UBS AG UBSN.VX. Jonathan Moulds, president of Europe and Canada, retires at the end of the second quarter.
Rubinoff was co-head of corporate and investment banking until a reorganization in January put Christian Meissner in charge of the unit and made Rubinoff chairman, responsible for deepening client relationships.
Bank of America confirmed the contents of Montag's memo.
(Reporting By Rick Rothacker; Editing by Kim Coghill)