Bank of America is facing growing concerns over the departure of several senior investment bankers, prompting executives to reassure employees and reinforce the bank’s commitment to growth. Among the notable exits was veteran banker Amy Lissauer, one of the company’s most senior female executives, who joined rival JPMorgan Chase after CEO Brian Moynihan and investment banking co-head Faiz Ahmad failed to persuade her to stay. Other prominent departures included technology dealmakers Kevin Brunner and David Fishman, as well as Mike Joo and Ed Liu. The exits have raised concerns about employee morale and the bank’s ability to retain experienced dealmakers during a booming capital markets environment.
Bank of America currently ranks fourth in global investment banking fees, behind JPMorgan Chase, Goldman Sachs and Morgan Stanley, according to Dealogic data. The bank previously held third place from 2022 to 2024 before Morgan Stanley overtook it amid the artificial intelligence investment boom. In response, executives have pledged to strengthen the bank’s competitive position, particularly in technology investment banking. At an August 10 meeting, Ahmad and other senior bankers reassured employees that the bank aims to climb the industry rankings. The bank has also recruited more than 40 managing directors this year, including experienced technology, industrials and healthcare bankers, while reporting strong investment banking fee performance in the first half of 2026.
However, concerns over compensation and the loss of experienced corporate relationship managers continue to pose challenges. Some bankers have criticised the bank’s bonus structure, particularly its use of deferred compensation, which competitors such as JPMorgan and Citigroup may use to attract talent. Bank of America executives maintain that senior hires have outpaced departures and deny that employee morale is deteriorating. The bank has highlighted its involvement in major transactions, investments in technology and strong revenue performance as evidence of its continued momentum. As competition intensifies across Wall Street, retaining top talent and strengthening its investment banking franchise remain critical priorities for Bank of America.
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