BofA Risk Group Prepares For Credit Derivatives Expansion
SAN Francisco-based Bank of America (BofA) is expanding its global credit derivatives business. Risk management for the beefed-up credit unit falls under the remit of BofA's existing risk control group, say bank officials. The risk unit will expand its systems to cope with the added credit derivatives activity, but won't be making any new hires.
BofA recently hired new managers for its credit derivatives operations -- Richard Reoch, formerly global head of credit derivatives at Nomura
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