HONG KONG, March 14 (Reuters) - Bank of America ( BAC )

has cut 16 bankers from its investment banking department in

Hong Kong as part of global cuts to its dealmaking workforce,

three sources with knowledge of the matter told Reuters on

Friday.

The reductions mainly targeted junior positions, said the

sources, who asked not to be named as they were not authorised

to speak to media.

Most junior bankers were offered positions in other

departments within Bank of America ( BAC ), one of the sources said, but

it was unclear how many of them had accepted the proposal.

Bank of America ( BAC ) declined to comment.

The U.S. lender is eliminating 150 junior banker positions

in its investment bank globally, two sources told Reuters

earlier this week, mirroring similar exercises at rivals

JPMorgan ( JPM ) and Goldman Sachs ( GS ).

Deal volumes in Bank of America's ( BAC ) home market in the United

States have fallen below expectations in the first half of the

year.

Hong Kong, meanwhile, has seen revived activity in its

initial public offering and additional share sale markets in

recent weeks.

That has included sizeable deals such as electric vehicle

maker BYD's primary share sale and drinks brand Mixue Group's

initial public offering.