Bank of America expands its investment banking team across nine U.S. cities ahead of second-quarter results.
Bank of America hired nine senior investment bankers across nine U.S. markets, including Austin, Boston, and Chicago. The moves precede its earnings release scheduled for tomorrow.
The expansion targets regional hubs such as Detroit, Minneapolis, and West Palm Beach. The bank did not disclose specific roles or prior firms of the new hires. Last quarter, BofA reported a 15% year-over-year increase in investment banking fees.
Shares of BAC were unchanged in after-hours trading following the announcement.