The Zhitong Finance App learned that Bank of America (BAC.US), one of the Wall Street commercial banking giants, is fully seeking to expand its equity capital market business in mainland Europe, the Middle East, and Africa, even though the bank participated in some of the largest initial public offerings (IPOs) in the European market this year, and the scale of any transactions it participated in was not too small in the strict sense of the word. James Palmer (James Palmer), head of equity capital markets in Europe, the Middle East and Africa (that is, the EMEA region) at Bank of America, said in an interview with the media that the bank made a “very careful decision” last year, that is, paying special attention to the share sales of major shareholders. Bank of America and BNP Paribas tied for the top of the EMEA IPO list in the second quarter, according to the latest data

In an interview, Palmer said, “Not only are we targeting large markets, but we are also spending more time cultivating market relationships and seeking exclusive agency rights in small listed companies with a market capitalization of less than 300 million US dollars. Frankly speaking, this is an area we need to improve.” He noted that the bank has also brought many first-time sellers to the EMEA market.

Furthermore, with the sudden shift in the European market situation, major IPOs from companies such as Puig Brands SA and CVC Capital Partners Plc helped Bank of America tie BNP Paribas SA (BNP Paribas SA) to the top of the list of IPOs in the EMEA region so far in the second quarter.

The Wall Street commercial banking giant is seeking positioning and more market share for its future growth in the region. Palmer said it was a “long-term investment in our team.” According to the latest data compiled by the agency, Bank of America has a share of nearly 8% of the share issuance sector in the entire European, Middle East and African market (EMEA), compared to less than 6% in 2022.

“We hope to prepare for a full recovery in the equity capital market next year,” Palmer said. Palmer also said that the team's mission is not only to “use aggressive pricing or blind bidding as a strategy to gain more market share,” but also to discover the specific needs of investors.

Earlier this month, the Wall Street commercial banking giant made a series of senior management appointments, including three new senior leaders for its UK market business, equity-related business, and Benelux ECM management team.

Stock capital market activity is rising at the same time as the overall size of the stock market, and IPOs can be said to play a critical role in this trend. According to data compiled by the agency, European companies raised nearly $13 billion through IPOs in 2024, more than double the same period last year. In addition to participating in two major transactions, PUIG and CVC, Bank of America also participated in the initial stock offerings of Galderma Group AG and Planisware SA.

According to information, Andrew Briscoe (Andrew Briscoe), head of Bank of America's EMEA-ECM syndicate department, said: “With the full return of IPOs in the region, we expect the actual situation of new stock issuance this year to become more complicated.”