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Bank of America’s top US IPO banker is leaving for a senior job at LendingTree, an online marketplace for loans that he helped take public almost two decades ago.
JD Moriarty, head of Americas equity capital markets at Bank of America Merrill Lynch and a technology-specialist, is joining LendingTree as a senior vice president of corporate development.
The move comes as at time of rising hope that the IPO market will pick up again, after a sluggish 2015-16.
Mr Moriarty is a 23-year veteran of Bank of America and before then Merrill Lynch, with the latter taking LendingTree public way back in the dotcom boom in 2000.
In a statement Doug Lebda, LendingTree’s CEO said:
We couldn’t be more excited to welcome JD as an official member of the LendingTree team. In his prior role at Bank of America Merrill Lynch, JD served as a valuable partner with a deep understanding of LendingTree’s business, market position and growth opportunity as he guided our team through several critical transactions.
At Bank of America Mr Moriarty will be replaced by Jim Cooney, an equity banker specialised in the healthcare industry. The move was announced in an internal memo, which a BAML spokesman confirmed was genuine.