BofA Seeking to Revamp India Investment Team After Probe

Bank of America Corp. is rebuilding its investment banking team in India after a string of senior resignations and scrutiny over share sales rocking local operations last year, said people familiar with the matter.

- Bloomberg

The Wall Street firm is in talks with senior bankers at rival firms to fill key deal advisory roles, including the head of its capital markets business, they said, asking not to be identified discussing private information.

Replacements were on hold as the bank reviewed its internal processes following alleged violations of share sales regulations.

The bank is looking to scale up operations and regain lost ground after naming Vikram Sahu, its global head of equity research, as the India country head, and having completed a review of its processes.