Manoj Rane, head of treasury at IndusInd Bank, and Jinendra Jain from the treasury division of ANZ Grindlays are slated to join Bank of America's treasury wing soon.
This follows the transfer of A Pai, vice-president, and Ajay Abrol, principal head of interest rate, to Chicago and Hong Kong, respectively.
Sources officials from Bank of America have confirmed the transfer of the two officials and added that the vacancies will be filled up by Rane and Jain.
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Manoj Rane will join as vice president -fixed income, while Jain will be assistant vice-president in the derivatives market.
On the other side, Pai will be joining the risk analytical group in Chicago and Abrol will be joining the local markets group at Hong Kong. According to industry observers, the last six months has witnessed several reshuffles taking place at the top level among foreign and private sector banks.
"This is also primarily due to the mushrooming of the dotcom companies and e-commerce ventures, which are pulling away talent from foreign and private banks," said sources.
For instance, two senior officials _ Pradeep Saxena, former country head in India of ING Bank, has joined iDLX Corporation; and Luis Miranda, former treasurer at HDFC Bank, has joined venture capital firm Chrysalis Capital as chief financial officer.