Bank of America has fired two more employees in its prime brokerage unit, as part of an ongoing investigation into sexual misconduct in the company.

The two employees were let go after B of A determined they interfered with a probe into harassment allegations against Omeed Malik, a managing director in the division, The Wall Street Journal reported Wednesday. Malik, a well-known figure in the hedge-fund world, was fired in January after female colleagues accused him of unwanted advances.

A spokesman for B of A confirmed the additional firings. Citing company policy, he did not name the two employees.

Bloomberg News
It’s unclear whether additional harassment allegations have been made against other B of A executives — or if any related disciplinary action has been taken against other employees. Bloomberg News


The shake-up in the Charlotte, N.C., company’s investment bank comes amid a nationwide focus on sexual harassment and misconduct in the workplace, sparked by the #MeToo movement. While high-ranking men in media, politics and other industries have resigned as previous misbehavior has come to light, banking has emerged from the cultural moment mostly unscathed.

The firings at B of A may be a sign that that’s changing. Still, there are several unanswered questions about the company's misconduct probe, which the Journal described as ongoing.

For instance, it’s unclear whether the probe is focused solely on the prime brokerage unit, or if it has since been expanded to include other parts of the company.

It’s also unclear whether additional harassment allegations have been made against other B of A executives — or if any related disciplinary action has been taken against other employees.

The B of A spokesman declined to comment.

Kristin Broughton

Kristin Broughton

Kristin Broughton is a reporter for American Banker, where she writes about the business of national and regional banking.