What happened
Bank of America hired Eddie Manheimer to run its global power and utilities investment banking team, with a January start. He will report to Todd Giardinelli, who oversees the bank's investment-banking coverage of global natural resources and the energy transition and who wrote the internal memo announcing the move.
Bank of America's spokesperson confirmed the memo's details. Morgan Stanley did not answer a request for comment right away.
Track record and reporting lines
Most recently, Manheimer headed Morgan Stanley's investment-banking practice for power and utilities across North America and, according to the memo, worked on multiple landmark deals, among them matters tied to Eversource Energy, Centerpoint Energy and Iberdrola SA. He brings more than 20 years of experience and started his career as a lawyer at Proskauer Rose before moving into banking.
Strategy context
Giardinelli wrote that Manheimer's relationships and sector know-how will expand BofA's reach across power and utilities. He is the latest senior addition as the bank intensifies its emphasis on technology, energy, infrastructure, and related fields linked to large-scale AI spending.
Leadership updates around the franchise
Bank of America also promoted Patrick de Loe and Ahmad Masud to serve as co-chairs of the global power-and-utilities investment-banking group. De Loe will keep running the power-and-utilities franchise across Europe, the Middle East and Africa, with Masud retaining parallel duties in North America.
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The investor angle
Why it matters: BofA is adding senior firepower in power and utilities as it leans into work linked to AI-related energy and infrastructure activity. For your portfolio, that points to a bank positioning its advisory bench where capital and corporate decisions may concentrate next, spanning financing and M&A tied to power and utilities.
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