(Bloomberg) — Bank of America Corp. hired Akhil Ahuja from Barclays Plc for its technology investment banking team, according to people with knowledge of the matter.
Ahuja will join Bank of America in October as a managing director and will be based in Palo Alto, California, said one the people, who asked not to be identified discussing a private matter.
Representatives for Bank of America and Barclays declined to comment, while Ahuja couldn’t be reached for comment.
The hire is the latest in a string of additions to Bank of America’s technology group, which brought in Nick Hopkins from Goldman Sachs Group Inc. this month. Earlier this year, the company added Kaushik Banerjee and Neal Nisargand to its technology investment-banking team.
Ahuja was head of enterprise and communications technology banking at Barclays. Previously, Ahuja was head of systems and infrastructure software banking at Wells Fargo & Co.
Even amid the tightest labor market in half a century and fears of a recession on the horizon, banks have continued adding to their ranks.
In the second quarter, investment banking fell by about half across the six biggest US banks, with markets upended by a war in Ukraine, inflation and other macroeconomic concerns. Still, mergers and acquisitions and other investments in the finance and technology industries have fared better with continued demand for bankers with expertise in those sectors.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
