Bank of America is stepping up efforts to strengthen its investment banking business after losing several senior bankers to rivals, including JPMorgan Chase, as competition for major corporate clients intensifies.
The departures have raised concerns among some employees about staff morale, client relationships and the bank’s ability to maintain its position on Wall Street. Among the most notable exits is veteran banker Amy Lissauer, who joined JPMorgan after Bank of America’s senior leadership attempted to persuade her to stay.
Other departures include technology dealmakers Kevin Brunner and David Fishman, alongside investment banking executives Mike Joo and Ed Liu.
Despite the losses, Bank of America says it remains committed to expanding its business. The bank has recruited more than 40 managing directors this year, targeting experienced bankers in technology, industrials and healthcare.
Its investment banking business has also delivered strong results. The bank recorded its second-highest investment banking fees ever in the first half of 2026, while advisory and debt issuance fees reached their highest first-half levels since 2009.
However, Bank of America ranked fourth in global investment banking fees in 2025 and 2026, behind JPMorgan, Goldman Sachs and Morgan Stanley, according to Dealogic data cited in the report.
Some bankers have also raised concerns about compensation arrangements, arguing that deferred bonuses may make it easier for competitors to attract experienced staff.
The bank maintains that senior hires have outnumbered departures and says investments in talent and technology will support its ambitions to climb the industry rankings.
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