Bank of America closes European cash equities

Wednesday 19 March 2003 at 16:00

Bank of America is pulling out of European cash equities with the potential loss of around 70 jobs, bringing to an end an ambitious three-year plan to build the business from scratch.

The decision to close the business comes just months after the firm said it was still committed to the business - which employs more than 100 staff - despite market conditions.