Royal Bank of Canada (RBC) has hired former head of US prime brokerage at Bank of America Merrill Lynch, Jonathan Yalmokas.
An RBC spokesperson confirmed that Yalmokas will join the firm but did not comment on his new role.
Reports from Reuters suggest he will lead its equity financing business.
A spokesperson for Bank of America Merrill Lynch declined to comment.
The Reuters report stated Yalmokas resigned from his role with Bank of America Merrill Lynch last week and will take up his new role in September, citing a person familiar with the matter.
Prior to his role at Bank of America, Yalmokas spent five years at UBS taking in roles as head of prime sales and head of derivative sales and swaps.
He also had a near five-year spell at Goldman Sachs as head of equity finance distribution.