A senior bond salesman is leaving Bank of America Merrill Lynch. The move comes on the heels of a shakeup in the firm’s credit-trading division.

A senior bond salesman is out at Bank of America Merrill Lynch.
Justin Adams, a managing director in credit sales, is joining Wells Fargo.
The move comes on the heels of a shakeup in the firm’s fixed income, currencies, and commodities division.

A senior bond salesman is out at Bank of America Merrill Lynch, a move that comes on the heels of a shakeup in the firm’s fixed income, currencies, and commodities division.

Justin Adams, a managing director in cross credit sales, is leaving to join Wells Fargo in New York, according to people familiar with the matter.

Adams spent nearly 15 years with the firm and specialized in cash and derivatives sales to hedge funds.

Spokespeople for Bank of America and Wells Fargo declined to comment.

Adams’ departure follows a reshuffling last month in Bank of America’s FICC division. Karen Fang, the head of sales and structuring for FICC in the Americas, left her post for a senior role in trading, and Gerry Walker, the global head of credit sales, took over Fang’s role.

Walker’s replacement wasn’t immediately announced.

At Wells, Adams will be reunited with Steve Hollender, a former credit sales exec at BAML, who started at Wells Fargo at the beginning of this year as head of investment-grade credit sales.

Bank of America is the third-ranked FICC business on Wall Street, behind JPMorgan Chase and Citigroup. Wells Fargo, known more for its consumer and retail business than its investment banking presence, doesn’t crack the top-10, according to industry data and consulting firm Coalition.

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