On August 19, according to an internal memo, Bank of America has hired two new managing directors to expand its technology business. Asad Mahmood, former managing director of Barclays, will join in autumn to oversee the semiconductor and quantum computing sectors, and will be based in Palo Alto, California. Gregory Reider will join Bank of America's Brazilian tech investment banking team this week, responsible for technology and fintech businesses in Latin America. He was previously the co-founder and managing partner of Volpe Capital, a venture capital firm focused on Latin America. A spokesperson for Bank of America has confirmed the contents of the memo.