Bank of America Hires Richard Hardegree as M&A Vice Chair to Boost Tech Dealmaking

Key Facts

In a move reflecting the aggressive push by major banks to capture a larger share of the tech dealmaking boom, Bank of America has appointed Richard Hardegree as Vice Chair of Global Mergers and Acquisitions. Hardegree joins the firm from UBS, where he served as a veteran investment banker. This strategic hire is specifically aimed at expanding BofA's footprint in the semiconductor and technology sectors amid a global surge in M&A activity.

This appointment comes at a time of intensifying competition in investment banking, as peer firms like JPMorgan Chase reported robust growth in M&A advisory fees in recent quarters per market data. Analysts suggest that the technology sector remains the primary driver of banking advisory revenue, particularly with the rise of AI-related investments. According to market data, Bank of America is focused on narrowing the gap with its primary rivals in these high-margin advisory segments.

On the market front, BAC shares stood at $39.45 (close May 21, 2026), with investors monitoring how new leadership hires will impact the profitability of the Global Banking division. Looking ahead at the economic calendar, there are no major corporate catalysts for the bank in the next seven days; however, global industrial production and retail sales data will be key to assessing the broader environment for corporate dealmaking.