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Bank of America's burgeoning legal team has raided Credit Suisse for a new European legal chief.
It is understood that Richard Gray, currently a managing director at Credit Suisse, will be joining Bank of America in the newly-created role of head of legal for Europe and Asia later this year and will be based in the bank's Canary Wharf office.
Gray's appointment follows a period of rapid expansion of Bank of America's legal function. Over the last six months the team has doubled in size and now comprises around 20 lawyers.
As first reported by The Lawyer (11 April), the bank hired former Deutsche Bank legal counsel Sajid Hussein as associate general counsel. Meanwhile, at the end of last month, Bank of America hired Fred van Oordt as assistant general counsel for debt capital markets from US firm Milbank Tweed Hadley & McCloy.
Bank of America has been bolstering its London legal function to support the growth in the bank's investment banking business in the UK.
Credit Suisse confirmed Gray's resignation but declined to comment. Bank of America declined to comment.