The reductions are expected to be through early retirement, transfer or the standard pink slip, according to the sources.
In addition, the bank has fired Michael Cho as co-head of Asia mergers and acquisitions and the other joint head, Zhang Xiuping, is still with the bank.
Cho served Merrill Lynch & Co. for 15 years and had been promoted to Asia mergers head in May 2009 .
Xiuping was hired from Deutsche Bank in October 2010 to focus on China.
By working together, Cho and Xiuping supervised Asian mergers and acquisitions for Bank of America, excluding Japan, Australia and India.
