We have used transmission electron microscopy (TEM) to investigate the structure of shear bands produced by bending electron-transparent Zr52.5Cu17.9Ni14.6Al10Ti5 metallic glass specimens. Shear bands were located by comparing the structure of the specimens before and after deformation. The shear band spacing is influenced by the structure of the specimen; portions of the specimen with a significant population of nanocrystals show a smaller separation between shear bands. Quantitative high resolution TEM analysis based on ratio technique has been used to explore the defect structure in shear bands. High density and void-like defects with size of about 1 nm were found in shear bands formed in both amorphous and nanocrystalline areas. A simple model was proposed to explain the formation of these defects.