Bank of America (BAC.N) has bolstered its senior ranks by appointing UBS (UBSG.S) investment banker Richard Hardegree as its vice chair of mergers and acquisitions. The Wall Street giant, a major American multinational investment bank and financial services institution offering a comprehensive suite of banking, investing, and wealth management services to clients worldwide, confirmed the hiring via an internal memo. Mr. Hardegree, who brings over three decades of M&A investment banking experience, is set to join the second-largest U.S. lender in August and will be based in Palo Alto, California.
Reporting to Eamon Brabazon and Ivan Farman, BofA’s co-heads of global M&A investment banking, Mr. Hardegree previously served as the vice chair of technology investment banking at UBS. His extensive career includes advising on significant technology sector transactions, such as Broadcom’s acquisition of VMware, Veeco’s merger with Axcelis, and SAP’s sale of Qualtrics to Silver Lake. He possesses a particular focus on the semiconductor sector, leveraging his Columbia Law School background.
This strategic recruitment reflects a broader trend among Wall Street’s largest banks, which are accelerating hiring efforts, buoyed by a notable rebound in dealmaking activity. Bank of America, in particular, has been proactive in expanding its market share in technology-related transactions, having previously onboarded four seasoned bankers from competitors earlier this year. Dealmakers are expressing optimism that mergers and acquisitions will continue to accelerate into 2026, driven by a more balanced U.S. regulatory regime and sustained investment in artificial intelligence. Globally, approximately $2 trillion in deals has been announced this year, a significant 32% jump from the same period last year, according to Dealogic data. A spokesperson for Bank of America confirmed the details outlined in the internal memo.
