Bank of America Names Leaders to Better Align Investment Bank, Wealth
(Bloomberg) — Bank of America Corp. said two executives will lead a new effort to better connect its investment-banking business with wealth clients, hoping to boost asset growth and deal opportunities.
Jim Rourke and Michael Liu were named co-heads of private client partnership development, which links Bank of America’s global corporate and investment bank, Merrill wealth management and the Private Bank, according to a memo seen by Bloomberg News.
In their new roles, Rourke and Liu will focus in particular on potential sell-side merger-and-acquisition opportunities, to “increase the quality of actionable mandates and growth of managed assets,” Brendan Hanley and Sam Kumar, co-heads of emerging growth and regional coverage, said in the memo.
Rourke has worked at Bank of America since 2008, most recently in the M&A group, while Liu has been with the firm since 2012 in EGRC, working with regional and private company clients, according to the memo. A company representative confirmed the contents of the memo.
For the biggest US banks, wealth management has been a fast-growing, competitive business. Firms have poured resources into building teams and products, hoping to lure new clients who bring with them business opportunities and additional assets to invest.
Economic and climate trends are increasing pressures on rural regions as people relocate for better health and opportunity. Rural places...
Most colleges charge application fees of around $50 per application, but they can sometimes be as high as $90. This...
Source: The College Investor When comparing 529 plans, you need to both look at performance and fees. Two researchers at...
