Get ready for Investment banking layoffs due to executive FOMO. We know they're a herd and follow each other's lead.
BofA eliminates some investment banking roles, including in New York.
https://www.reuters.com/business/finance/bank-america-eliminates-some-investment-banking-roles-including-new-york-2025-03-10/
Deal making is down because none of the parties knows if there business will be tariffed or not. Any company with government contracts is also on hold. Uncertainty ki-ls deals.
@cr+1jp0tkd0y And after we hire them? The main focus of the story was that "the surge in dealmaking has not materialized so far. U.S. mergers and acquisitions in the first two months of 2025 were the lowest since the financial crisis, with just 1,603 deals signed through Friday, making it the slowest open by volume since 2009, Dealogic data showed." These guys don't sit back and underwrite/process loans. Besides, we have probably already acquired these people already via expensive acquisitions.
More likely that we will hire them. CIB is a growth area for us
I doubt much, they are one of the few areas that's exploded in HC growth in the past two years.