Bank of America, which figures prominently in New York Attorney General Eliot Spitzers Canary Capital Partners investigation, has reportedly dismissed two brokers who played a central role in the scandal.
Theodore Sihpol, a broker who worked in BoAs New York office for high-net-worth clients and who allegedly placed market-timing trades for Canary, and his supervisor, Charles Bryceland, no longer work for the bank, Reuters reports. Bryceland was in charge of the banks New York brokerage and private banking.
Sihpol and Bryceland were named in Spitzers complaint, along with two other BoA executives: Rich Demartini, head of asset management, and Robert Gordon, chief executive officer of Bank of America Capital Management. Sihpol, Bryceland, Demartini and Gordon all declined comment. But BoA spokesman Bob Stockler said, "Were committed to acting swiftly, and were also going to act thoroughly and fairly."