BofA Names Leaders to Better Align Investment Bank, Wealth Units

Bank of America Corp. said two executives will lead a new effort to better connect its investment-banking business with wealth clients, hoping to boost asset growth and deal opportunities.

Jim Rourke and Michael Liu were named co-heads of private client partnership development, which links Bank of America’s global corporate and investment bank, Merrill wealth management and the Private Bank, according to a memo seen by Bloomberg News.

In their new roles, Rourke and Liu will focus in particular on potential sell-side merger-and-acquisition opportunities, to “increase the quality of actionable mandates and growth of managed assets,” Brendan Hanley and Sam Kumar, co-heads of emerging growth and regional coverage, said in the memo.