Exclusive Report – According to sources, Bank of America consumer retail M&A banker Peacock will join JPMorgan.

Added Peacock's job title and information about other new hires in paragraphs 2 and 6.

Svea Herbst-Bayliss/Abigail Summerville

Reuters New York, Oct 14 - Four sources familiar with the matter revealed on Wednesday that JPMorgan Chase (JPM.N) is poaching senior consumer and retail M&A banker Richard Peacock from Bank of America (BAC.N).

According to these financial industry sources, Peacock, who joined Bank of America over a decade ago, will become JPMorgan's global head of consumer and retail M&A early next year, based in New York. None of these sources were authorized to speak publicly about the personnel move.

Amid an active M&A market and frequent personnel changes on Wall Street, he is the latest managing director to leave Bank of America, the United States’ second largest bank. Previously, (link) several managing directors had already left the bank.

Earlier this year, Peacock was named co-head of Bank of America’s newly formed private capital M&A team, responsible for assisting private equity firms across industries with asset monetization.

Both Bank of America and JPMorgan declined to comment. Reporters were unable to reach Peacock for comment.

Earlier this month, JPMorgan said it had hired former Sycamore Partners executive Rob Sweeney (link) as global chair of investment banking. He will advise major corporate clients, particularly in the consumer and retail sectors, and help senior bankers manage key client relationships. This year, the bank also poached London-based Ian Carnegie-Brown from UBS.

In both the first half of 2026 and full-year 2025, JPMorgan’s consumer and retail investment banking team ranked number one in industry rankings by Dealogic.

The bank acted as financial advisor when Alimentation Couche-Tard announced its plan to acquire convenience store chain Zabka, as well as when food ingredient maker Ingredion agreed to acquire competitor Tate & Lyle.

This summer, Bank of America lost another veteran consumer and retail transaction specialist: Andrew Conway left (link) to become global chair of Citigroup’s consumer and retail investment banking business C.N.

In recent months, JPMorgan has hired several well-known bankers from Bank of America, including David Fishman, Amy Lissauer, and Kevin Brunner.

But Bank of America stated it will continue investing in talent; this year it has hired more than 40 new managing directors in its corporate and investment banking division.

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