A senior Bank of America dealmaker who joined the Wall Street bank from state-backed Italian lender Cassa Depositi e Prestiti in 2021 has been promoted to lead investment banking in the country.
Vito Lo Piccolo, who joined Bank of America as a managing director, has been named head of investment banking for Italy, according to an internal memo seen by Financial News.
Lo Piccolo reports into Bank of America’s head of Emea investment banking Matt Cannon, and head of corporate and investment banking and country executive for Italy Antonino Mattarella in his new role. The promotion took effect in October.
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Lo Piccolo left Cassa Depositi during a revamp of its leadership pushed through by then Italian prime minister, Mario Draghi. Lo Piccolo was deputy manager at the time of his departure, leaving after a period when the lender had increased stakes in key infrastructure and telecoms sectors in the country.
He started his career in London at Merrill Lynch in 1998 and has also worked at Deutsche Bank and Citigroup. In the memo announcing his appointment, Cannon and Mattarella said that Lo Piccolo has “made a significant contribution to our Italian investment banking franchise” over the past two years.
Bank of America ranked sixth in the investment banking fee league tables in the first nine months of 2023, according to data provider Dealogic, up from seventh at the same point last year. UniCredit and Intesa Sanpaolo topped the rankings in the country.
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