(Adds Lissauer’s title)
By Svea Herbst-Bayliss and Jessica DiNapoli
NEW YORK, Aug 2 (Reuters) - Bank of America Corp has hired former Evercore Inc banker Amy Lissauer to become its global head of activism and raid defense, a spokesman for the bank confirmed on Friday.
In her new role, Lissauer will continue working to defend against activists and will join Bank of America in the late fall, the spokesman confirmed.
In her four years at Evercore, Lissauer was a managing director and worked alongside Bill Anderson, one of the industry’s most prominent defense bankers.
Like rivals Morgan Stanley, Lazard Ltd and Goldman Sachs Group Inc, Bank of America concentrates on defending companies from investors, often prominent hedge funds, that are calling for improved performance or asking for strategic reviews and board seats.
Activism defense has developed into a must-have business for most Wall Street banks even though the work can be time consuming and not especially lucrative.
A number of banks have recently increased their activism defense activities, including Greenhill & Co Inc and Moelis & Co. (Reporting by Svea Herbst-Bayliss and Jessica DiNapoli; Editing by Tom Brown and Cynthia Osterman)