Bank of America hires veteran investment banker Benjamin Saunders

Business

Bank of America Corp (BAC.N) has hired veteran investment banker Benjamin Saunders as a managing director for its Americas Financial Institutions Investment Banking business, according to a memo.

Saunders, who was most recently the principal client coverage executive for New England and mid-Atlantic depository institutions at J.P. Morgan (JPM.N), will be based in New York City and cover the banking sector.

With over 25 years of investment banking experience, Saunders played a crucial role in several M&A deals, including Eastern Bankshares’ (EBC.O) acquisition of Century Bancorp last year and BSB’s sale to People’s United in 2018, according to the memo.

The appointment comes against the backdrop of a talent war among top Wall Street firms as dealmaking activity recorded a bumper year in 2021. BofA advised on over 350 deals last year, according to data from Refinitiv.