Local Tech Wire

CHARLOTTE, N.C. – Executives leaving Bank of America (NYSE: BAC) as the bank scales back private equity efforts are forming their own groups.

According to Reuters, Jason Cipriani, who led the bank’s strategic funds investments, and 10 other employees are forming a Charlotte office for investment firm Sterling Stamos.

Meanwhile, Travis Hain, a managing director who oversaw direct corporate investments, is forming a firm with 20 other employees.

Read the

Get the latest news alerts: at Twitter.