Shannon Stapleton/ReutersBank of America has been upgrading its investment banking team that covers financial institutions over the past year.
Wall Street has been expecting more deal activity from the banking sector, but M&A has plummeted across the board in 2020.Bank of America continues to shake up its dealmaking team that focuses on mergers and acquisitions in the finance sector, poaching a top investment banker from Credit Suisse as another managing director in the group heads for the exits.
Before his short stint with the Swiss lender, Wiant was at Lazard for two years and with RBC for eight years before that. A Bank of America spokesman confirmed the contents of the memo but declined to comment. A Credit Suisse spokesman declined to comment. Debra Coleman, an MD, is retiring from the firm, according to people briefed on the matter. She joined Merrill Lynch in 2003 and was with Sandler O'Neill for several years before that.
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