Bank of America hires two media and telecoms investment bankers: memo

FILE PHOTO: A Bank of America logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo

(Reuters) - Bank of America Corp added two senior investment bankers to its media and telecommunications team as it continues to bolster coverage of the sector, according to an internal memo reviewed by Reuters.

The bank has hired Sam Powers, who was previously head of technology, media and telecom for the Americas at UBS Group AG, and Randy Russell, who was previously head of Americas media and telecom at Deutsche Bank AG, the memo said.

Powers will be head of Americas media and telecom investment banking at Bank of America and Russell will be a managing director for media and telecom, the memo said.

A Bank of America representative confirmed the contents of the memo. UBS declined to comment. Deutsche did not immediately respond to a request for comment.

Powers has advised major clients, including Advance Newhouse Communications, Creative Artists Agency LLC, TPG Capital, and Viacom Inc, the memo said.

Russell has worked with DISH Network Corp, EchoStar Corp and Verizon Communications Inc, the memo said. He previously served in the Marine Corps, and rose to the rank of major in the Marine Corps Reserves.

Earlier this year, Bank of America appointed Jack MacDonald to be head of global technology, media and telecom investment banking, following the departure of Anwar Zakkour, the banker who formerly led the TMT group.

Reporting by Carl O’Donnell in New York; editing by Jonathan Oatis