New York

BANK of America Corp's investment bank executives are divided over where their European Union (EU) trading hub should be after Brexit, according to people with knowledge of the matter.

Equities head Fabrizio Gallo has pushed for Frankfurt as the base for traders working with EU clients, while his fixed-income colleagues Sanaz Zaimi and Bernard Mensah have favoured Paris, the people said. Some trading operations will be forced to leave London when the UK exits the bloc, currently set for early 2019.