Bank of America is cutting an additional 650 jobs in global investment banking and global markets, selling equity prime brokerage due to the write-downs in its mortgage related businesses.

    The bank said in a statement Tuesday it is resizing the international platform to "emphasize core strengths in debt, cash management, and trading, including rates and foreign exchange."

    The bank also said it will sell its equity prime brokerage business to a buyer "with a proven ability and commitment to continue serving our clients' prime brokerage needs."

    In the third quarter Bank of America reported a 93 percent plunge in its investment banking profits and said it would cut 3,000 jobs across the company, 500 from the global corporate and investment bank.