Bank of America is redeploying manpower as the Fed continues to raise interest rates and corporate pressures mount.
[Financial Channel/Comprehensive Report] "Reuters" on Friday (25th), citing people familiar with the matter, reported that Bank of America (Bank of America) is redeploying staff in wealth management and lending departments due to rising interest rates and corporate pressure. Transfer to other positions within the company.
A Bank of America spokesperson said that with the growth and development of business and customer needs, the bank has adjusted its focus and manpower to the most important areas. According to current market trends, manpower is being readjusted to support major business departments.
It is reported that fewer than 200 employees have been transferred to product specialists in the company's global operations.
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BofA's move highlights broad weakness in Wall Street banks' mortgage and wealth management businesses amid rising interest rates.
Global central banks have raised interest rates to curb rising inflation, putting pressure on consumer and business spending. In addition to Bank of America, it has also affected Wall Street heavyweights such as Goldman Sachs and Morgan Stanley. Prospects for high-level enterprises.
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