With the renewed focus on investment banking, BofA is aiming to break into the top four of Asian investment banking advisory league tables in the next few years, the people said.
BofA’s recruitment drive for the investment banking unit comes as it struggles with falling market share and revenue, as well as a string of departures of senior leaders in the United States and Asia in the recent past. Koder, an Australian who started out at Goldman Sachs in the mid-1990s, has made significant changes to the business in the past year and stepped up hiring in the bank’s home market as well as in Europe.
Overall, BofA expanded its investment banking headcount in Asia last year by hiring about a dozen senior bankers, making it one of the most aggressive recruiters among other global banks in the region, one of the people said.
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