Stuart Hendel is heading to Bank of America Corp.'s Merrill Lynch unit to head its global prime brokerage unit, the company said Monday. Hendel resigned Monday morning as the global head of UBS AG's prime brokerage unit, people familiar with the matter said.
An industry veteran, Hendel had joined UBS less than two years ago from a bigger prime brokerage, Morgan Stanley.
Two other senior UBS executives who reported to Hendel also quit Monday. They are Jonathan Yalmokas, the bank's U.S. head of prime brokerage sales, and Charlotte Burkeman, European head of prime brokerage.
Yalmokas is in talks to join Hendel as Bank of America's U.S. prime brokerage head, the people said. Burkeman's immediate plans could not be determined.