Bank of America loses senior quant to bigger role at TD Securities

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Bank of America has lost its head of rates analytics to TD Securities. Andrew Gunstensen was hired by the Canadian investment bank as its global head of FICC quantitative modeling and analytics. He’s working out of New York as a managing director.

Gunstensen spent more than a decade at Bank of America supporting their rates trading desks, analyzing and providing pricing on swaps, options, exotics, governments, futures, clearing and repo. At TD Securities, his team will cover rates, fx, credit, commodities and e-trading, according to LinkedIn.

While technically not a homecoming as he’s based out of New York, Gunstensen earned his B.A. from the University of Toronto before getting his PhD from MIT. Prior to Bank of America, Gunstensen spent 15 years at Morgan Stanley covering rates analytics as an MD. He also did some moonlighting as an adjunct professor at NYU for a few years teaching an interest rate modeling course.

This is at least the second big-name veteran Bank of America has lost in the last month. Jeffrey Porphy also left the firm in June to launch Capital One’s first-ever M&A advisory team in New York. It also lost a senior salesperson to Goldman Sachs in May. Across the pond, Bank of America has seen a deluge of exits from its European equity derivatives business.

TD Bank didn’t immediately respond to a request for comment on Gunstensen’s hire.

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