Bank of America hires veteran investment banker Benjamin Saunders

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A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri/File Photo

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Jan 4 (Reuters) - Bank of America Corp (BAC.N) has hired veteran investment banker Benjamin Saunders as a managing director for its Americas Financial Institutions Investment Banking business, according to a memo seen by Reuters on Tuesday.

Saunders, who was most recently the principal client coverage executive for New England and mid-Atlantic depository institutions at J.P. Morgan (JPM.N), will be based in New York City and cover the banking sector.

With over 25 years of investment banking experience, Saunders played a crucial role in several M&A deals, including Eastern Bankshares' (EBC.O) acquisition of Century Bancorp last year and BSB's sale to People's United in 2018, according to the memo.

The appointment comes against the backdrop of a talent war among top Wall Street firms as dealmaking activity recorded a bumper year in 2021. BofA advised on over 350 deals last year, according to data from Refinitiv.

The appointment was first reported by Bloomberg News.

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Reporting by Niket Nishant and Manya Saini in Bengaluru; Editing by Devika Syamnath

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