BoA to Exit Equity Prime Brokerage

The changes to BoA's global markets and global investment banking units are meant to shift "investment away from activities that do not directly contribute to the success of the company's integrated model, and to avoid risks that are not commensurate with the rewards available," bank officials say in a prepared statement.

In addition to selling its prime brokerage unit, BoA also outlined plans to "resize" its international platform, to "emphasize core strengths in debt, cash management and

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