Bank of America's DiCaprio left for Morgan Stanley
In a time where mega-IPOs such as that of SpaceX, OpenAI, and Anthropic are dominating the airwaves, the private markets that produced them might be overlooked by the public. Banks, however, are quietly doubling down on their hiring
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Brian DiCaprio joined Morgan Stanley in New York this month as a managing director in its alternative capital solutions team, specialising in private placements. He joined Morgan Stanley from Bank of America, where he spent 5 years, and was made an MD in its 2024 round of promotions.
DiCaprio’s team in private placements works with venture capital and growth equity firms, among others. An older job placement within the team described it as providing “innovative structuring, market insight, and execution expertise” for private fundraising, such as valuations during a funding round.
Private placement bankers are in high demand. Back in April, Lazard announced its $575m acquisition of leading private markets advisor Campbell Lyutens. Lazard CEO Peter Orszag noted that private capital advisory “has been growing rapidly”.
Moving from Bank of America to Morgan Stanley is a practical choice. LSEG, formerly Refinitiv, noted that the firms swapped rankings in the investment banking fees league table between Q1 of 2025 and Q1 of 2026, due to Morgan Stanley’s banking revenue growing by 46%, versus 17% for BofA.
Morgan Stanley, and Brian DiCaprio did not respond to a request for comment on this article. Bank of America declined to comment.
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