BofA's Top Female Investment Banker Said to Join Silver Lake

(Bloomberg) -- One of Wall Street’s most prominent female bankers is off to the buy side.

A.J. Murphy, whose round trip from Bank of America to Goldman Sachs and back captured the financial industry’s attention four years ago, is joining private equity firm Silver Lake, according to people with knowledge of the matter.

As head of global capital markets for Bank of America Corp. since 2016, she led a business that generated $4.58 billion in fees last year. Her defection to Goldman Sachs Group Inc. in 2014 raised eyebrows when BofA denied Murphy the paid gardening leave that Wall Street employers typically give to prevent bankers from working for rivals on active deals. She returned to Bank of America just a year later.

Murphy, 42, will take on an investing role at Silver Lake, the Menlo Park, California-based firm with $39 billion in assets under management, said the people, asking not to be identified because the move hasn’t been publicly announced. She’ll join as a managing director at Silver Lake Partners, the firm’s flagship fund, and will have flexibility to help with other strategies as well, one of the people said.

Dell, Alibaba

Founded in 1999, Silver Lake closed on $15 billion last year for its fifth buyout fund, exceeding its $12.5 billion target and making it the largest technology-focused pool managed by a private equity firm, according to data compiled by Bloomberg. The company’s portfolio of investments generate more than $164 billion of revenue annually, according to its website. The firm owns stakes in companies including Dell Inc. and Alibaba Group, the website shows.

Murphy, Bank of America’s highest-ranking female investment banker, will work with the company over the next few weeks “to ensure a smooth transition of responsibilities,” according to a memo sent to employees Thursday by Christian Meissner, head of the corporate and investment bank. No decision on a replacement has been made yet, Meissner said in the memo.

Bank of America posted an 11 percent jump in fees from issuing debt and equity for 2017. Revenue from those deals was $1.14 billion in the first quarter, down 8 percent from a year earlier.

Murphy first joined the Charlotte, North Carolina-based bank in 2009, after stints at JPMorgan Chase & Co. and Deutsche Bank AG.

John Yiannacopoulos, a spokesman, confirmed the contents of the memo. A Silver Lake representative declined to comment.

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