The head of Bank of America Merrill Lynch's Middle East and North Africa unit has left following an overhaul of the U.S. lender's regional investment banking operations, three sources said.
A spokeswoman for BofA in the Middle East confirmed the departure of Phil Southwell, hired in May 2011 to run the bank's MENA business, and also the resignation of Ziad Awad.
Awad, a managing director with the bank for more than five years, has resigned and will leave at the end of the year, sources had also said on Monday, speaking on condition of anonymity as the matter has not been publicly disclosed.
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