Overview
Bank of America has tapped Richard Hardegree to serve as vice chair of M&A, according to an internal memo. Hardegree, who has more than 30 years of experience in mergers and acquisitions and a specialty in the semiconductor sector, is set to join the bank in August and will be based in Palo Alto, California. He will report to Eamon Brabazon and Ivan Farman, Bank of Americas co-heads of global M&A investment banking.
Background and experience
Hardegree most recently occupied the role of vice chair of technology investment banking at UBS. He is a graduate of Columbia Law School and has advised on a range of sizeable technology transactions, including work on Broadcom's acquisition of VMware, Veeco's merger with Axcelis, and SAP's sale of Qualtrics to Silver Lake. The memo outlining his appointment was confirmed by a Bank of America spokesperson.
Context within the industry
The appointment comes as major Wall Street firms increase recruiting from competitors in response to a pickup in dealmaking. Earlier in the year, Bank of America hired four veteran bankers from rival firms as part of efforts to expand its footprint in technology deal execution.
Dealmakers have expressed optimism that mergers and acquisitions activity will continue to accelerate into 2026, citing expectations for a more balanced regulatory environment in the U.S. and ongoing investment in artificial intelligence technologies as supporting factors. Through this year, roughly $2 trillion in deals has been announced, a 32% increase from the comparable period last year, based on Dealogic data.
Implications
Hardegree's focus on semiconductor and broader technology transactions aligns with Bank of America's push to grow its share of tech deal flow. The hire reinforces the bank's strategy of augmenting senior M&A coverage through experienced lateral recruits as competition among the largest banks intensifies with a recovering market for corporate transactions.
What remains uncertain
While dealmakers are broadly upbeat about future volumes, the expectation of accelerating activity in 2026 is framed as optimism about market and regulatory trends rather than a guaranteed outcome. The broader market's hiring activity and year-to-date deal totals underscore both the momentum and the competitive dynamics shaping investment banking recruiting and coverage across technology and financial services.
Note: This article is based on an internal memo and confirmation from a Bank of America spokesperson.