Macquarie hires BofA banker for transportation team(3)

Chris Wofford has joined Macquarie Capital in New York as a managing director and head of its transportation and logistics investment banking effort. He joined the firm this month.

Since December 2006, Wofford had served as the global sector head of transportation and logistics within the global industries group at Bank of America in New York. Prior to that, he was a senior managing director in Bear Stearns’ transportation and logistics practice.

At Macquarie, he will work within the firm’s larger diversified industries group.

Wofford is the latest of a number of high-profile departures from Bank of America’s transportation and advisory business.

Last month, Michael Masterson, head of airlines and aircraft leasing investment banking, left Bank of America to co-head Deutsche Bank’s infrastructure investment banking business alongside Craig Fuehrer.

That same week, Mark Friedman, the firm’s head of transportation and infrastructure investment banking for the US, joined boutique investment bank Evercore as a senior managing director in its transportation advisory business.

Non-US investment banks like Deutsche Bank and Macquaire have been busy hiring talent from wounded bulge bracket banks in recent months alongside smaller boutiques like Evercore and Greenhill.

Part of the opportunity has stemmed from the turnover resulting from the recessionary environment, while government bailout funds, the prospect of compensation caps and conflicts of interest have prompted others to join rival shops.

The Deal first reported details of Wofford’s hire.