Merrill/BofA take axe to London loans teams

After a deep round of job cuts at Bank of America early last week, it was Merrill Lynch’s turn on Friday, as the integration of the two US banks continues to take its toll. Well-known faces in Merrill’s loans and leveraged finance business in London have now left as part of the wave of redundancies, while the head of loan syndications for Europe, the Middle East and Africa at BofA, Charles Bingham, has also left. Amid the job cuts, however, there is still no clarity as to who is set to take the top loans job in Europe at the combined entity, or how the division will be structured.