NEW YORK, October 14 — JPMorgan Chase is recruiting veteran consumer and retail mergers and acquisitions banker Richard Peacock from Bank of America, according to people familiar with the matter, marking another high-profile departure from the second-largest US bank.
Peacock, who spent more than a decade at Bank of America, is the latest managing director to leave the institution amid continued competition among major Wall Street banks for experienced investment banking professionals.
Earlier this year, Peacock was appointed co-head of Bank of America’s newly established private capital M&A group. The team was created to help private equity firms across industries monetize their investments and pursue transactions.
Bank of America declined to comment on Peacock’s move, while Peacock could not be reached for comment. JPMorgan did not respond to a request for comment.
JPMorgan Continues to Recruit Bank of America Bankers
Peacock’s reported departure follows a series of senior banker exits from Bank of America. During the summer, consumer and retail dealmaker Andrew Conway left the bank to become Citigroup’s global chair of consumer and retail investment banking.
JPMorgan has also recruited several other prominent Bank of America bankers in recent months, including David Fishman, Amy Lissauer and Kevin Brunner.
The latest move highlights the ongoing competition between major financial institutions to attract senior professionals with established client relationships and expertise in mergers and acquisitions.
Bank of America Continues Investment in Talent
Despite losing experienced bankers, Bank of America has emphasized its continued commitment to expanding its corporate and investment banking operations.
The bank has said it hired more than 40 managing directors in its corporate and investment bank during 2026, underscoring its efforts to strengthen its workforce while competing for talent across the industry.
Peacock’s move also comes as private equity firms seek opportunities to generate returns from existing investments, supporting demand for advisers with expertise in private capital transactions and strategic asset sales.
The latest personnel changes reflect the importance of experienced dealmakers in a competitive investment banking environment, where relationships, transaction expertise and access to major corporate and private equity clients remain valuable assets.
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