Jonathan Yalmokas has resigned as Bank of America Corp‘s head of prime brokerage in the Americas to lead an equity financing business at Royal Bank of Canada, a person familiar with the move said on Wednesday.
Yalmokas will start at RBC’s New York office in September in a bid to expand its financing business for investment managers, according to the person, who was not authorized to discuss the information publicly. RBC spokeswoman Hannah Sloane confirmed on Wednesday that Yalmokas would join the bank in September.
Yalmokas had joined Bank of America Merrill Lynch in 2011 from UBS Group AG, where he also worked in a role providing investment services to hedge funds. He resigned from the bank last week, the person said.
Reuters could not immediately learn who is replacing Yalmokas at Bank of America. A representative for the bank did not respond to a request for comment in time for publication.