Bank of America has hired a senior dealmaker from Goldman Sachs to lead its Italy mergers and acquisitions business, as the U.S. lender seeks to expand its presence in the country.
New Leadership in Italian Investment Banking
The bank has appointed Gemma, a managing director at Goldman Sachs, as head of Italy dealmaking. She will be based in Milan and report to the head of investment banking for Europe, the Middle East and Africa. Gemma brings extensive experience in cross-border M&A and capital markets, having advised on several high-profile transactions during her tenure at Goldman Sachs.
Strengthening European Operations
This move is part of Bank of America's broader strategy to bolster its European investment banking capabilities. Italy represents a key market with significant opportunities in sectors such as luxury goods, automotive, and energy. The bank aims to leverage Gemma's expertise to capture a larger share of advisory mandates in the region.
Gemma's departure from Goldman Sachs marks another notable exit from the firm, which has seen several senior bankers leave for rival institutions in recent months. Bank of America's hiring spree reflects its ambition to compete aggressively in the European M&A landscape, amid a rebound in deal activity post-pandemic.
The appointment is effective immediately, and Gemma will work closely with the existing team to identify new business opportunities and strengthen client relationships. Bank of America has been actively expanding its team in Italy, having recruited several other senior bankers over the past year.
