Bank of America has recruited a seasoned technology investment banker from UBS to fill a senior mergers and acquisitions role, according to an internal company memo obtained by Reuters on Friday.
Richard Hardegree will assume the position of vice chair of mergers and acquisitions at the nation’s second-largest bank starting in August. The veteran banker brings over three decades of M&A investment banking expertise, with particular focus on semiconductor industry transactions, and will work from the bank’s Palo Alto, California office.
In his new role, Hardegree will answer to Eamon Brabazon and Ivan Farman, who jointly lead Bank of America’s global M&A investment banking division.
Major financial institutions on Wall Street are aggressively recruiting talent from competitors as dealmaking activity shows signs of recovery. Bank of America has already brought aboard four experienced bankers from rival firms this year as part of its strategy to capture a larger portion of the technology dealmaking market.
Hardegree holds a law degree from Columbia Law School and previously held the position of vice chair of technology investment banking at UBS.
His track record includes providing advisory services on several high-profile technology sector transactions, such as guiding Broadcom through its VMware purchase, assisting Veeco with its Axcelis merger, and advising SAP on the Qualtrics sale to Silver Lake.
Industry professionals specializing in dealmaking express confidence that merger and acquisition activity will gain momentum through 2026, driven by expectations of more moderate regulatory oversight in the United States and continued investment in artificial intelligence technologies.
Deal announcements have totaled approximately $2 trillion so far this year, representing a 32% increase compared to the corresponding timeframe last year, based on Dealogic’s compiled data.
A Bank of America representative verified the accuracy of the internal memo’s contents.
