Bank of America's CEO announced that the bank has expanded its banking team in Switzerland, seizing the opportunity to increase market share following the shakeup in the Swiss banking sector after Credit Suisse's collapse. Switzerland is implementing stricter banking regulations since Credit Suisse's demise in 2023, acquired by UBS, aiming to prevent future crises. Bank of America's CEO, Brian Moynihan, mentioned that the Swiss banking team doubled in size rapidly amid the recent disruptions in the market. While not specifying the exact number of bankers in Switzerland, Moynihan expressed the bank's interest in serving a wide range of Swiss businesses, from small enterprises to multinational corporations. Other international banks, such as BNP Paribas, Deutsche Bank, and Citigroup, are also increasing their presence and targeting smaller Swiss businesses, vital to the national economy. The Swiss government intends to impose stricter capital requirements on UBS and its three main competitors - PostFinance, Raiffeisen, and Zürcher Kantonalbank. UBS's CEO highlighted the impact of enhanced regulations on competitiveness, emphasizing the need for a balanced regulatory environment. The oversight of BofA's international operations, including Merrill Lynch International, falls under Bernard Mensah's responsibility.