A top banker left Bank of America to join RBC, but now he’s changed his mind

Jonathan Yalmokas at a panel discussion at the SALT conference in Las Vegas in 2014.
REUTERS/Rick Wilking

Jonathan Yalmokas, a top Wall Street executive who specializes in servicing hedge funds, has changed his mind about joining RBC Capital Markets and is headed to Cantor Fitzgerald instead.

Yalmokas resigned as the head of prime brokerage for the Americas for Bank of America Merrill Lynch in June and was due to start running the equity financing business for RBC in September. Instead, he’s joining Cantor Fitzgerald to serve as global head of prime services, according to people familiar with the matter.

Both Cantor Fitzgerald and RBC declined to comment.

Yalmokas was the managing director of Bank of America’s prime brokerage business for six years, and before that he ran prime brokerage for UBS for five years, according to his profile on LinkedIn. Yalmokas declined to comment.

This is the latest in a string of big hires for Cantor Fitzgerald.

In January, the firm named former Deutsche Bank co-CEO Anshu Jain as president. In April, the firm nabbed Pascal Bandelier from Barclays to run its global equities business.