Oct 17 (Reuters) – Financial institution of America (BAC.N) is glad with its headcount for now, Chief Monetary Officer Alastair Borthwick instructed journalists in a convention name on Monday.
The corporate added about 5,000 staff within the third quarter, Borthwick stated after the corporate reported a 9% drop in third-quarter revenue on Monday.
It employed specialists and salespeople in its shopper division, whereas additionally recruiting a number of hundred staff in its Merrill Lynch unit, alongside separate workers for danger and management features.
When requested if the corporate would minimize workers in its funding banking arm, Borthwick stated, “No — at this stage, we have been very purposeful by way of constructing out our investment-banking protection and footprint within the U.S. and abroad.”
Reporting by Lananh Nguyen in New York and Manya Saini in Bengaluru; Enhancing by Chizu Nomiyama
Enhancing by David Goodman
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