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Bank of America's investment banking chief Christian Meissner is departing as firm dips in banking league tables (BAC)

Christian Meissner, Bank of America's global investment banking chief has decided to leave the firm at the end of the year, according to an internal memo from COO Tom Montag.

Christian Meissner is out at Bank of America Merrill Lynch.

The company's global investment banking chief has decided to leave the firm at the end of the year, according to an internal memo from COO Tom Montag.

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Succeeding Meissner is Matthew Koder, the bank's president of Asia Pacific, who will soon move from Hong Kong to New York to facilitate the transition.

Meissner joined in 2010, a period of turmoil for all of Wall Street, though Bank of America was especially hard hit. He built the firm's investment bank into a top contender, battling the likes of JPMorgan Chase and Goldman Sachs in the annual league tables.

The bank's investment banking performance has taken a step back of late, falling from third in 2015 to fourth the past two years on the overall league tables, according to data from industry consultant Coalition. The bank came in fifth in the investment banking league tables through the first half of 2018.

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