Another investment banking exit at Barclays

|By:, SA News Editor

Bank of America (BAC +0.4%) names Jeremy Murphy a managing director in its consumer and retail investment banking unit after he exited a similar position at Barclays (BCS -1.5%).

Barclays is in the midst of restructuring its investment banking division, and management has promised 7K job cuts by 2016. The challenge is cutting heads without cutting revenue.