BofA Merrill Lynch oil star said to exit on FSA investigation

Bank of America Merrill Lynch investment banker Andrew Osborne is understood to have left the firm on an investigation by the Financial Services Authority into his conduct.

According to Sky, Osborne left the firm earlier this week, with the broadcaster suggesting he we forced out after he disclosed information on a transaction he was not involved with by a major institution.

It is understood that Osborne's hearing with the FSA has been scheduled for the coming weeks.

Osborne joined Merrill Lynch from Hoare Govett in 2004 before its acquisition by Bank of America. He was part of a team that was brought in to fill a void at the investment bank after it lost a five-strong team to Morgan Stanley.

Osborne has served as an adviser to some of the FTSE most recognised oil names over the years including Premier Oil and Bowleven.

Shortly before he joined Merrill Lynch he led the team responsible for a £123 million placing at Tullow Oil, which funded its acquisition of Energy Africa.  

The FSA and BofA Merrill Lynch refused to comment.