Bank of America Trading Desks Gain Ground With More Capital, Headcount
Fixed-income traders in particular have nabbed market share, helping narrow gap with rival JPMorgan
WATCH; Bank of America Trading Desks Gain Ground
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Bank of America Corp.’s trading floors appeared to be faltering in their push to grab market share early last year, when the head of the business took the mic at a town hall meeting to discuss their progress.
Jim DeMare cut to the chase: Anyone lacking the ambition to do better should consider working elsewhere. A year later, his division posted a 10% jump in quarterly revenue — the only increase among Wall Street’s five largest trading houses.