03/06/2009 05:12 am ET Updated May 25, 2011

Nelson Chai, Bank Of America's Asia Chief To Leave

Nelson Chai, a close ally of former Merrill Lynch chief executive John Thain, is leaving his position as president of Bank of America's Asia Pacific operations, according to sources familiar with the matter.

His departure comes just a month after BofA completed its purchase of Merrill, and before Mr Chai had even moved to Asia to take up his new responsibilities. Chai had been chief financial officer of Merrill Lynch before being appointed to the BofA post earlier this month.

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