(Reuters) – Bank of America Corp has hired veteran investment banker Benjamin Saunders as a managing director for its Americas Financial Institutions Investment Banking business, according to a memo seen by Reuters on Tuesday.

Saunders, who was most recently the principal client coverage executive for New England and mid-Atlantic depository institutions at J.P. Morgan, will be based in New York City and cover the banking sector.

With over 25 years of investment banking experience, Saunders played a crucial role in several M&A deals, including Eastern Bankshares’ acquisition of Century Bancorp last year and BSB’s sale to People’s United in 2018, according to the memo.

The appointment comes against the backdrop of a talent war among top Wall Street firms as dealmaking activity recorded a bumper year in 2021. BofA advised on over 350 deals last year, according to data from Refinitiv.

The appointment was first reported by Bloomberg News.

(Reporting by Niket Nishant and Manya Saini in Bengaluru; Editing by Devika Syamnath)