BofA Head of TMT going to JPM
BofA's head of TMT and former head of M&A going to JPM. Basically he got passed over for head of IBK when BofA announced new leadership a couple months ago. The bank put two useless people in charge instead, typical. Never worked with him since I'm in GIG but heard good things. This continues the decline of talent at BofA. We lose our best and replace them with mediocre bankers from other firms. Its unfortunate given I heard TMT was actually having a great year. The mediocrity continues at BofA.
Any thoughts?
Article linked here but behind a paywall:
Based on the most helpful WSO content, it seems BofA's TMT group has been experiencing significant changes, with the departure of key leadership like Kevin Brunner, who is heading to JPM as Global Chair of M&A. This move appears to stem from internal leadership decisions at BofA, where Brunner was passed over for the head of IBK role in favor of others, which some view as a questionable choice.
The sentiment shared in WSO threads suggests frustration with BofA's talent management, as the bank seems to be losing top performers and replacing them with less impactful hires. Despite this, TMT at BofA was reportedly having a strong year, which makes the loss of leadership even more concerning for those within the bank. This trend could potentially impact the group's momentum and overall morale.
If you're in the industry or considering opportunities, this shift might signal a need to evaluate the stability and leadership direction of BofA's TMT group moving forward.
Sources: Barclays MDs leaving, Is Wells Fargo poised to become the next BB?, Poaching junior analysts / hot job market?, BofA TMT - Underdogs?, Future of Banking?
If you’re actually a director in BofA GIG, then the real question is why haven’t you jumped ship yet to another bank…? Serious question, what makes you stay there?
I think there will be more departures, just the tip of the iceberg. Don’t think people are happy about the leadership changes.
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