Bank of America Hires Bankers for Nordic Region, Germany

Bank of America Corp., the second-largest U.S. lender, hired two senior bankers from JPMorgan Chase & Co. (JPM) and Greenhill & Co. for its corporate and investment-banking units in Sweden and Germany.

Johan Lustig, who joins from JPMorgan, has been named head of global corporate and investment banking for the Nordic region, Bank of America said in a memo to employees today and confirmed by a spokeswoman in London. Harri Sundvik, who led the business since 2006, will become vice chairman of that division.

“These two appointments are important steps and represent further investment in this strategically important region,” Bob Elfring and Diego De Giorgi, co-heads of Europe, Middle East and Africa corporate and investment banking, said in the memo. 

Bank of America, which ranks fifth in merger advice in Europe this year, has been hiring a handful of bankers in Europe including Kevin McLoughlin in insurance and Nikolaus Naerger for its corporate banking business in Germany, Austria and Switzerland.

“We feel very good about the pipelines that we have in the investment-banking business,” Bank of America Chief Financial Officer Bruce Thompson said in remarks to reporters in January. The year is off to a “reasonable start,” he said.

The bank also hired Birger Berendes as head of mergers for Germany, Austria and Switzerland from Greenhill. He will join in June and initially be based in London before moving to Frankfurt, the Charlotte, North Carolina-based firm said.

To contact the reporter on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net

To contact the editors responsible for this story: Edward Evans at eevans3@bloomberg.net Steve Bailey, Keith Campbell

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