As per JPMorgan, Banerjee, the global head of semiconductor investment banking ⁠and electronics at BofA, will join the financial institution as a managing director, to support the venture’s semiconductor and electronics clients.

Milani, who was BofA’s head of Americas internet investment banking, will be the banking biggie’s new managing director, apart from one of the spearheads of its AI effort.

Banerjee, during his four year stint at BofA, emerged as a successful dealmaker, after advising on nearly a dozen marquee transactions in the semiconductor sector, including ASML’s USD 1.4 billion investment in Mistral AI, IonQ’s USD 1.8 billion acquisition of Skywater, USD 8.2 billion sale of National Instruments to Emerson, USD 1.45 billion sale of EA Elektro-Automatik to Fortive, USD 339 million sale of Transphorm to Renesas and USD 600 million sale of AMI to THL ‌Partners.

Banerjee also advised on the restructuring of Renesas Electronics’ USD 2.1 billion investment in Wolfspeed, along with Intel’s USD 400 million minority sale of IMS and the USD 1 billion minority investment in Coherent’s silicon carbide semiconductor business.

Milani, on the other hand, as a leading internet banker at Bank of America, had worked on M&A advisory, financing deals for ⁠DoorDash, Unity Software, Lyft, Zillow Group, RealReal, Match Group, Grindr, Pinterest, Affirm Holdings, SoFi Technologies, Opendoor Technologies and Snap.

The high-profile inductions come in the backdrop of the financial biggie doubling down on its technology investment banking and M&A groups. By March 2026, rising AI investments pushed the JPMorgan’s technology budget toward USD 19.8 billion.

As per the reports, the venture has been steadily increasing its technology investment, covering areas like cloud infrastructure, cybersecurity, data systems, along with AI tools.

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