BofA’s Ex-Top Banker Meissner Says Outsiders Will Revamp IPOs

Christian Meissner, the former head of investment banking at Bank of America Corp., sees private equity firms and new technologies creating bigger changes to the process for initial public offerings.

“The private equity firms clearly are building a very significant capital markets presence,” he said in a Bloomberg Television interview airing Monday. “But equally, liquidity provision which used to be largely the purview of banks has now in the equity market largely moved to other new entrants. The same is true for research.”

Meissner, who left Bank of America last year and is currently in between jobs, spoke on ...