Bank of America has hired 2 top bankers to boost its media & telecom business

Bank of America has hired
two veteran bankers to its media & telecom
business.
REUTERS/Shannon
Stapleton

• Bank of America hired two top bankers to
  its Americas Media & Telecom Investment Banking
  business.
• Sam Powers will join in the fall as head of
  Americas Media & Telecom Investment
  Banking.
• Randy Russell recently joined BoA as a managing
  director in Media & Telecom.

Bank of America has hired two veteran bankers to its media
& telecom business, according to an internal memo
viewed by Business Insider. 

Sam Powers will start in the fall as head of Americas Media
& Telecom Investment Banking.
He’s joining the
firm from UBS where he led the Americas TMT group, advising on
deals for clients like Viacom and TPG.

He will join Randy Russell, who recently came on board the
firm as a managing director in the group. Previously, he was
head of Americas Media & Telecom at Deutsche Bank and advised
clients like Dish and Verizon.

“The addition of Sam and Randy to our global Media &
Telecom practice reflects the significant momentum we are
experiencing in this space as we continue to win key mandates and
grow our market share,” wrote Jack MacDonald, head of
Global TMT Investment Banking, in the memo. “They bring
nearly 40 years of combined industry experience and leadership to
our practice.”

The additions to BoA’s investment banking business come
amid a deal frenzy in the media and telecom space. AT&T is attempting to
close out an $85 billion megamerger to acquire Time Warner,
and Disney is primed to acquire
21st Century Fox assets for $71 billion.