Bank of America Acquires Cybersecurity Firm MDSec

The acquisition integrates MDSec’s technical consultancy expertise into Bank of America’s existing security framework. The bank already maintains a strong footprint in the North of England, employing over 1,400 people in nearby Chester, where one of its primary cyber threat operations centers is currently based.

Kris Fador, Chief Information Security Officer at Bank of America, noted the firm's intent to leverage MDSec’s specialized capabilities to enhance protection for both the bank and its clients. MDSec co-founder Dominic Chell described the deal as a path to scale their existing security innovations within a major global financial institution. The integration will see the 65-person MDSec team join the bank's workforce as the organization continues to refine its international cybersecurity posture.