By Julie Steinberg and Christina Rexrode
Milko Campusano, a managing director in trading at Bank of
America in New York, recently left the bank, the latest departure
of a fixed-income executive at a Wall Street firm, according to
people familiar with the matter.
It couldn't be determined why Mr. Campusano left the firm. Mr.
Campusano joined Bank of America's global foreign-exchange team in
New York in 2002, according to a news release at that time. He came
to the firm from J.P. Morgan Chase & Co., where he was North
America rates vice president and senior spot dealer, the release
said. The news of the trader's departure was reported earlier in
the Financial Times, which described Mr. Campusano as the bank's
chief foreign-exchange dealer in New York.
Many bond and currency traders have left their firms in recent
years as the business has become less lucrative because of
increased regulation and electronic trading.
In recent months, some foreign-exchange traders have also been
leaving their banks amid probes about the way that Wall Street
banks handled their business in the vast currency markets.
In recent weeks, Bank of America joined the ranks of
currencies-dealing banks to have suspended staff as part of the
global probe into the wholesale foreign-exchange market, forming a
roll call that now encompasses almost every major bank in the
business. It is unclear whether Mr. Campusano's move has anything
to do with a regulatory investigation, and no one has suggested any
wrongdoing on his part.
The global investigation into how traders behave in the
currencies market dates back to April last year, when the U.K.'s
Financial Conduct Authority first started looking into the
matter.
Aaron Lucchetti and Katie Martin contributed to this
article.
Write to Julie Steinberg at julie.steinberg@wsj.com