BofA Nabs UBS Dealmaker for M&A Push

Bank of America has bolstered its mergers and acquisitions division by hiring Richard Hardegree, a seasoned investment banker from UBS. Hardegree, who will serve as vice chair of M&A, brings more than three decades of experience, with a particular focus on the semiconductor industry. He is set to join the second-largest U.S. lender in August and will be based in Palo Alto, California. This move signifies Bank of America's commitment to expanding its market share in technology dealmaking. The bank has notably added four veteran bankers from competitors earlier this year to achieve this goal.

Hardegree's appointment comes at a time of increasing optimism for mergers and acquisitions activity. Dealmakers anticipate a continued acceleration of M&A in 2026, supported by a more balanced regulatory environment in the U.S. and significant investments in artificial intelligence technologies. So far this year, approximately $2 trillion in deals have been announced, representing a substantial 32% jump compared to the same period last year. Hardegree previously served as vice chair of technology investment banking at UBS and has advised on major deals, including Broadcom's acquisition of VMware.