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BofA CEO Feels His Bankers' Pain: ‘We Got a Little Too Careful’

  • Bank aims to boost midsize M&A deals in U.S., Moynihan says
  • Expects trading revenue to decline ‘a few percentage points’
Bloomberg business news
Bank of America CEO Moynihan discussed the company’s strategies for its various businesses.(Source: Bloomberg)
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Bank of America Corp. is loosening the reins on its investment bankers.

The lender is sending out dealmakers in search of more middle-sized transactions in the U.S., seeking to regain market share after cutting back on risk. It’s hiring at a fast clip to build out its ranks with capital-markets expertise, according to Brian Moynihan, the bank’s chairman and chief executive officer.