Bank of America loses bankers, tells staff of big ambition, continued hiring

Bank of America executives sought to reassure investment-banking staff after several prominent dealmakers left, including Amy Lissauer, who joined JPMorgan, and co-head of global investment banking Mike Joo. At an August 10 meeting, executives said the bank was committed to climbing the league tables and hiring senior bankers, particularly in technology.

The bank ranked fourth in Dealogic’s global investment-banking fee table in 2025 and 2026, after Morgan Stanley moved ahead of it during the AI boom. Bank of America said it had recruited dozens of senior bankers this year and welcomed more than 40 managing directors to its corporate and investment bank.

Some bankers cited thinning coverage of corporate clients and compensation rules as concerns, while senior executives denied that morale was low. Bank of America said its investment bank posted its second-highest-ever fees in the first half of the year, with advisory and debt-issuance fees at their highest level for any first half since 2009.