Bank of America Merrill Lynch’s chief operating officer for Europe, the Middle East and Africa is to retire from his post, it has emerged, as the executive team put together to run the region by outgoing Emea and Asia president Jonathan Moulds gradually moves on.

Rob Everett, chief operating officer for Emea, will leave the US bank at the end of the month. He is set to move with his wife and family to her native country of New Zealand after more than two decades with the bank in London, according to a source familiar with Everett's move. Bank of America Merrill Lynch is yet to name a replacement.