Pure PMs vs. BAs

I've been noticing lately that pure Project Managers on Wall Street are losing popularity. Of course I have only a limited perspective but the sentiment I'm getting is that pure PMs aren't adding as much value. In fact I see a trend towards hiring more BAs with PM experience, or Senior Dev Leads/Project Managers. So some specialty role + PM experience is a more popular choice with employers.

A pure PM might fit into a PMO role better, but an actual project manager doing projects is better off diving into the details.