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.”
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