JPMorgan Chase has poached veteran investment banker Richard Peacock from Bank of America, according to Reuters. Peacock, who served as co-head of BofA’s newly formed Private Capital M&A group, is the latest high-profile managing director to depart the second-largest US bank.
📌 Key Highlights & Talent Shifts:
• Senior Talent Move: Peacock joined Bank of America over a decade ago and recently co-led its private capital M&A group focused on helping private equity firms monetize assets across sectors.
• Pattern of Senior Departures: Bank of America lost another top consumer dealmaker over the summer when Andrew Conway exited to become Citigroup’s Global Chair of Consumer & Retail Investment Banking.
• JPMorgan Hiring Spree: Adds to JPMorgan’s recent roster of senior BofA recruits, which includes David Fishman, Amy Lissauer, and Kevin Brunner.
• Counter-Investing: Bank of America maintains it is aggressively expanding its talent pipeline, having hired 40+ new managing directors across its corporate and investment bank this year.
💡 Market Takeaway: Big Wall Street banks are ramping up senior dealmaker recruitment in consumer, retail, and private equity advisory to capture market share ahead of an expected acceleration in M&A activity.