Bank of America is losing some of its top high-yield talent to European rivals. The US bank last week lost three of its most senior high-yield professionals, two to Dresdner Kleinwort Benson (DrKB) and one to ABN Amro.

Leading the exodus, BofA's head of European high-yield sales, Tom Crystal, is joining ABN Amro as head of high-yield sales. ABN plans to hire another three senior professionals to form a core high-yield sales team.