Investment banking: BAML winning battles in EMEA, not yet the war
US bank is showing signs of real momentum; Astute hires and capital strength key to growth
This month, former Goldman Sachs partner Luigi Rizzo lands at Bank of America Merrill Lynch as head of mergers and acquisitions, Europe, Middle East and Africa.
He will be followed in the autumn by the return of one of BAML’s former rainmakers, Jim O’Neil, as co-head of the bank’s global financial institutions group.
This in itself says much about where BAML sees growth opportunity. But when seen in the context of the flurry of senior hires BAML has made to its EMEA corporate and investment banking business in the past year, it is clear that the US bank is on the charge in a region where it has in the past struggled to punch its weight.
|Diego De Giorgi, co-head of BAML's EMEA corporate and investment banking business|
In M&A, leveraged finance and in regional and country coverage across the Middle East and North Africa, Spain, Portugal, Russia, Germany and the Benelux countries, BAML has been filling senior roles, underlining its commitment to boosting its EMEA corporate and investment banking business, run by co-heads Bob Elfring and Diego De Giorgi.