Yet another move from banking to private equity

|By:, SA News Editor

William Egan, Bank of America's (BAC -0.7%) co-head of global financial institutions has exited, reports Reuters, to join Oaktree Capital (OAK -0.1%) for a leadership role in its new life reinsurance company.

Egan's former co-head at BofA Jim O'Neill will take over the role by himself. Egan had been with the bank since 1999.

Mass exodus is probably too strong a term, but - amid slow growth at banks and a brutal legal/regulatory environment - the pace of movement to greener pastures is picking up.

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