Hong Kong — Bank of America will recruit about 50 bankers for its investment team in Asia in 2020, as it pushes to bulk up its deal-making business and shore up revenues from the unit globally, three people with direct knowledge of the matter said.
BOA’s hiring tally for the year could change depending on the deal-making’s momentum, said two of the people, who spoke on condition of anonymity as the plans are still confidential. The Wall Street bank promoted its Asia-Pacific president Matthew Koder to global head of corporate and investment banking in late 2018 and tasked him with revitalising its corporate and investment banking business.
Overall, BOA expanded its investment banking headcount in Asia last year by hiring about a dozen senior bankers, making it one of the most aggressive recruiters among other global banks in the region, one of the people said.