BofA correlation trading leaves

March 6—Alexandre Bernand, the London-based global head of credit correlation trading at Bank of America, has resigned. Bernand plans to join Deutsche Bank, where he is expected to be named global head of the German bank's correlation and cash collateralised debt obligation (CDO) business within its London structured credit unit.

Spokespersons at both Bank of America and Deutsche Bank declined to comment. But one source close to Bank of America says senior CDO specialists there were “jostling

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