BofA Targets Middle Market to Expand Investment Bank in Europe

Bank of America Corp. is hiring and investing abroad to expand its investment-banking operations for middle-market clients as some of its competitors retreat, according to Chief Executive Officer Brian Moynihan.

The focus is on Europe, “where there is opportunity for us to deal with the next size down,” Moynihan said in an interview from his hometown of Wellesley, Massachusetts. “We invest balance sheet, invest capital, invest in people and places.”

CEO Brian Moynihan

Photographer: Hollie Adams/Bloomberg

Several US firms are looking to scoop up talent and gain market share left behind in the wake of Credit Suisse’s takeover by UBS Group AG in June. ...