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

REUTERS/Shannon Stapleton

Bank of America has hired two veteran bankers to its media & telecom business.

• 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.