Bank of America Cracks Down on Analyst Defections to Rivals

As of August 5th, 2025, Bank of America has taken a firm stance against the growing trend of its investment banking analysts leaving for rival firms. The bank is now requiring its junior bankers to disclose if they have accepted job offers elsewhere, and is warning that those who do so may be redeployed to other areas within the organization.

This move by Bank of America is part of a broader effort by Wall Street firms to retain their top talent. Across the industry, banks like Citigroup and Goldman Sachs have also recently implemented measures to discourage analysts from agreeing to future roles at competing firms, particularly in the lucrative private equity space.

While Bank of America's disclosure requirement was already part of its annual code of conduct, the bank has now reiterated this policy to its junior bankers through their managers. Analysts who fail to report accepted offers within a week could face disciplinary action, including potential dismissal.

The intensifying competition for top-tier talent reflects the high-stakes nature of the investment banking industry. As firms seek to maintain their competitive edge, they are increasingly willing to take a hard line against the aggressive recruitment tactics of private equity and other rivals.