Bank of America has agreed to acquire UK-based information security consultancy MDSec Consulting Limited, a move that expands the bank’s in-house cybersecurity expertise as financial institutions continue investing in defenses against increasingly sophisticated cyber threats. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals.
Headquartered in Macclesfield, England, MDSec employs approximately 65 cybersecurity specialists and is known for providing highly technical information security consulting services. The acquisition will add the firm’s expertise to Bank of America’s global cybersecurity organization, strengthening the bank’s internal capabilities as cyber risk remains a strategic priority across the financial services industry.
The transaction also reinforces Bank of America’s technology presence in the North of England, where the bank already employs more than 1,400 people in nearby Chester. Chester is also home to one of the company’s cyber threat operations centers, making the region an established hub for the bank’s security operations.
Rather than relying solely on external vendors, the acquisition reflects a broader strategy among large financial institutions to deepen proprietary cybersecurity capabilities through targeted talent acquisitions. Bringing MDSec’s technical specialists into the organization is expected to enhance the bank’s ability to identify, assess and respond to evolving cyber threats while supporting security initiatives across its global operations.
“We have long admired the exceptional ability of the MDSec team and are delighted that Bank of America and its clients will now further benefit from their work,” said Kris Fador, Chief Information Security Officer at Bank of America. “We look forward to welcoming the MDSec team to Bank of America as we continue to enhance our leading cybersecurity capabilities in the UK and globally.”
For MDSec, the acquisition provides access to a larger global platform where its technical expertise can be deployed across one of the world’s largest financial institutions. The company has built its reputation by delivering specialized information security consulting services and developing advanced cybersecurity capabilities.
“We’re immensely proud of what we’ve built at MDSec and, above all, of the team that made it possible,” said Dominic Chell, co-founder of MDSec. “From the outset, our ambition has been to build world-class security capabilities and to push the industry forward. Joining one of the world’s leading financial institutions, one that reflects our culture of innovation and technical excellence, gives us an incredible opportunity to take that ambition to the next level.”
Financial terms of the acquisition were not disclosed.
Bank of America serves individual consumers, businesses and institutional clients through a broad portfolio of banking, investment and wealth management services. The company operates across the United States, its territories and more than 35 countries and jurisdictions, serving more than 69 million clients. The acquisition of MDSec adds specialized cybersecurity talent to the bank’s technology organization and aligns with its ongoing investment in protecting digital infrastructure, client data and critical financial systems as cybersecurity continues to play an increasingly central role in global banking operations.
