Bank of America has a new MD, courtesy of a private equity firm

Brian Innes has joined Goldman Sachs in New York as a Managing Director in its industrial investment banking group, transitioning from Bank of America where he spent 17 years building expertise in the global industrials sector. Innes was elevated to MD status at BofA during its 2024 round of promotions before making the lateral move to Goldman Sachs, signaling the mobility of senior banking talent in a competitive market environment.

The timing of the transition underscores 2026's emerging status as a strong year for investment banking activity. According to market intelligence provider LSEG (formerly Refinitiv), Goldman Sachs commanded an 8.2% share of investment banking revenue in industrials during the first quarter of 2026, compared to Bank of America's 5.2% share. This market share differential illustrates the competitive positioning that drives talent acquisition, particularly among managing directors who carry client relationships and deal sourcing networks critical to banking profitability.

Innes' career trajectory reflects a strategic pivot common among finance professionals. He began as an equity researcher at Credit Suisse before taking time away from the workforce to pursue an MBA, subsequently joining Bank of America as a banking associate. His progression from analyst to managing director over nearly two decades demonstrates the traditional partnership-track progression in investment banking, culminating in his transition to a peer institution with stronger market positioning in his sector of focus.

Neither Goldman Sachs nor Bank of America provided comment on the move, and Innes did not respond to requests for additional information regarding his transition.