Bank of America Cuts 150 Junior Jobs in Investment Banking, Sources Say
Reuters
Investment banking activity had picked up in recent months, with Wall Street executives cheering the business-friendly tone of President Donald Trump’s administration. But U.S. mergers and acquisition activity in the first two months of 2025 has seen just 1,603 deals signed through Friday, making it the slowest pace by volume since 2009, Dealogic data showed.
“We anticipate head count reductions will accelerate as the beginning of the year has dampened the outlook for full-year investment banking results, specifically within the advisory business,” said Chris Connors, principal at consultants Johnson Associates.
“Whether publicly announced or done so informally and at the margins, we expect the large global banks to reduce staffing levels within M&A over the next three to six months.”
