Eyebrows raised as BAML Europe boss departs the group

BANK of America Merrill Lynch’s European president Alex Wilmot-sitwell is leaving the group, in a move likely to raise eyebrows across the industry given his role in shaping the bank’s response to Brexit.

Mr Wilmot-sitwell handed in his resignation earlier this week, with staff told of the departure yesterday.

According to that memo, sent from chief operating officer Tom Montag, Mr Wilmot-sitwell is leaving to “pursue opportunities outside the bank”.

Bank of America said it was a “natural time” for Mr Wilmot-sitwell to leave. He has headed up BAML’S operations in Europe, the Middle East and Africa for the past six years.

However, the timing of his departure is surprising, as he has been instrumental in the bank’s preparations for when the UK leaves the EU.

Speaking in the House of Lords in 2016, Mr Wilmot-sitwell had called for the Brexit process to be handled in a “very carefully coordinated and managed” way, as it was “fraught with risk”.