Key facts
- Bank of America co-head of investment banking Mike Joo is departing the firm.
- Ed Liu, a former Bank of America technology executive, has resigned.
- Ed Liu will join Deutsche Bank as its global head of Technology, Media & Telecommunications.
- Mike Joo was named co-head of global investment banking last year.
- Faiz Ahmad and Karim Assef will continue to lead Bank of America's global investment banking business.
Bank of America is experiencing a wave of executive departures, with co-head of investment banking Mike Joo announcing his departure for an external opportunity. Joo, a 20-year veteran, was named co-head last year. This follows the resignation of technology executive Ed Liu, who joined the bank in early 2024 from Morgan Stanley and plans to join a competitor. Liu has been hired by Deutsche Bank as its global head of Technology, Media & Telecommunications. The bank's Global Corporate and Investment Banking (GCIB) team president, Matthew Koder, noted in a memo that the bank continues to invest in talent and has welcomed over 40 new managing directors this year. Faiz Ahmad and Karim Assef will continue to lead the global investment banking business. Separately, Ida Liu, global head of Citi's private bank, is also exiting the company, and Amy Lissauer was hired by JPMorgan Chase, while Rohan Sen was hired by Citi.