Bank of America CEO cutting investment bankers some slack

Brian Fonzie Moynihan

Bank of America is loosening the reins on its investment bankers.

Bloomberg News reports that the bank is sending out dealmakers in search of more middle-sized transactions in the U.S., seeking to regain market share after cutting back on risk. It’s hiring at a fast clip to build out its ranks with capital-markets expertise, according to Brian Moynihan, the bank’s chairman and CEO.

“We got a little too careful,” he said Wednesday in an interview with Bloomberg Television in New York. “We lost some share in mid-size client M&A deals in the United States. We shouldn’t do that - and the team saw that, and that’s what they’re after.”

Hit the link below to access the complete Bloomberg News article:

BofA CEO Feels His Bankers' Pain: ‘We Got a Little Too Careful’

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