Bank of America to increase bonuses for investment bankers – report

Group 1 - Bank of America plans to increase bonus payments for top-performing investment bankers by approximately 20%, while mid-level performers may receive similar payouts to last year [1][2] - The bank is finalizing year-end compensation figures, with average bonuses raised by 10% last year, and typically communicates bonus decisions in January [2] - The bank aims to grow its share of investment banking fees by 50 to 100 basis points over the next three to five years [2][3] Group 2 - Bank of America seeks to close the gap with competitors JPMorgan and Goldman Sachs in investment banking, focusing on retaining talent in M&A and increasing participation in larger transactions [3] - Revenue from the markets business is expected to increase by a high single-digit percentage to 10% [4] - Overall Wall Street bonuses for traders and investment bankers are projected to rise for the second consecutive year due to increased deal volume and market volatility [4]