Eva Castillo has resigned as head of Bank of America Merrill Lynch’s Europe, Middle East and Africa wealth division, according to an internal memo seen by Financial News.
It is understood Castillo, recently named as one of Financial News’ 100 most influential women in the Emea financial markets, resigned her position before Sallie Krawcheck’s appointment as overall head of wealth at the US bank last month. Castillo will remain in the job until December to ensure a “smooth transition”, according to an internal memo to staff from Krawcheck this morning.
The bank plans to name her successor in the “near future”.
Castillo’s former patron Robert McCann appointed her to the position in December 2006 but left Merrill Lynch following its rescue by Bank of America just over a year ago. He is expected to become head of UBS‘ wealth management division in the US at the end of October.
However, Castillo’s friends do not think she is short of supporters at Bank of America Merrill Lynch: “She just wanted another challenge. It’s as simple as that,” said one of them. Castillo serves on Bank of America’s 15-person Emea management committee. Spanish telephone company Telefonica has also been demanding her time since 2008, when she agreed to become one of its directors.
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