Leadership Shakeup Amidst Allegations at BofA

Three senior bankers, including the co-head of investment banking in India, have exited Bank of America as an internal investigation examines allegations of information sharing misconduct regarding planned secondary stock offerings.

In a significant development, Bank of America's co-head of investment banking in India, along with two other bankers, has departed from the company. This follows an internal investigation into allegations of misconduct, as per a report from the Financial Times.

The probe, initiated earlier this year, is examining whether Bank of America and its Asian investment banking division shared confidential information with select investors before the announcement of secondary stock offerings.

The company has not provided any comments in response to inquiries from Reuters.

(With inputs from agencies.)