Bank of America Co-President Jim DeMare expects second-quarter markets revenue growth to exceed the initial 15% forecast. DeMare announced the updated outlook at a Morgan Stanley financial services conference on June 9. Strong performance within the equities business drives the potential upside for the sales and trading division.
CEO Brian Moynihan provided the original 15% growth projection in late May. The bank anticipates a significant rebound from the prior year's second quarter. High market volatility from U.S. tariffs impacted results during that period last year.