Bank of America Folds Fintech Investment Banking Team Into Tech

Bank of America Corp. has folded its fintech investment banking team into its technology practice, reflecting the industrywide shift in financial services toward software.

The lender is moving about 50 bankers into its roughly 200-strong tech group, according to Kevin Brunner, the bank’s chairman of global M&A and global head of technology, media and telecom investment banking.

Fintech is a catch-all term for more than a dozen types of financial-oriented tech companies, including payments providers, stock exchanges, online brokers, data sellers, portfolio-management software makers and digital-lending platforms. While the way the way banks cover those businesses varies from firm ...