3 Bank of America employees in India leave over alleged client tips

CHARLOTTE: The Bank of America’s (BoFA) co-head of investment banking in India and two other bankers have left the company amid an investigation into wrongdoing allegations, the Financial Times reported on Thursday, citing three people familiar with the matter.

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The internal investigation was launched earlier this year and is scrutinising whether Bank of America and bankers at its investment banking arm in India shared nonpublic information with certain investors ahead of upcoming secondary stock offerings, the report said.

BofA did not immediately respond to a Reuters request for comment.