McDonald retires from Bank of New York

McDonald was based in the bank's London office and focused on FX and equity derivatives outside the US. He is not thought to have another role lined up immediately.

BoNY said that following his departure, derivatives trading for global markets would be run out of the New York office. The operation will be headed by McDonald's former co-head Kai-yee Ho, and as such, the bank will not be looking to replace McDonald.

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