Bank of America has added two senior investment bankers to its media and telecommunications team as it continues to bolster coverage of the sector, according to an internal memo reviewed by Reuters.
The news agency reports that the bank has hired Sam Powers, who was previously head of technology, media and telecom for the Americas at UBS, and Randy Russell, who was previously head of Americas media and telecom at Deutsche Bank, the memo said.
In the meantime, JPMorgan Chase has hired five industrial sector research analysts from rivals including Morgan Stanley, Nomura and UBS to bolster coverage of Chinese listed companies, according to an internal memo seen by Reuters.
And Bloomberg News reports that Lazard, the largest independent merger advisory firm, named Peter Orszag and Joerg Asmussen to newly formed roles of head of mergers and acquisitions in North America and Europe, respectively.
“Joerg and Peter will help drive M&A client marketing initiatives around the world,” Alex Stern, chief executive officer of the firm’s financial advisory unit, wrote in a memo obtained by Bloomberg News. The appointments are part of the firm’s “next phase of growth.”
Finally, Reuters reports that UBS has confirmed a top manager from its wealth management division will leave the bank at the end of the year.
Jakob Stott was most recently a vice president in the wealth management division, after having previously been the head of wealth management for Europe for several years.