Corporate and Investment Banking, Sales and Trading, Treasury Services

9/14/20 10:00 am EDT

Euromoney magazine has named Bank of America CEO Brian Moynihan Banker of the Year as part of its annual Awards for Excellence.

“Brian Moynihan’s leadership and quick action in response to the pandemic, coupled with the company’s focus on responsible growth, are being recognized amid a year filled with unprecedented challenges,” said Louise Bowman, editor of Euromoney.

Euromoney has also recognized Bank of America as the World’s Best Bank for Corporate Responsibility. This is the third time the company has been honored in this category, having previously received the more...

8/11/20 10:00 am EDT

Euromoney magazine has named Bank of America the best bank in transaction services in Latin and North America in the publication’s 2020 Awards for Excellence. This is the latest recognition the Global Transaction Services (GTS) business has received, and follows recent awards for innovation and trade finance, as well as top rankings in Commercial Card.

Established in 1992, the Euromoney Awards for Excellence program is considered a global benchmark for the banking industry. The publication received nearly 1,000 submissions for its regional and country awards.

The awards and more...

7/29/20 4:30 am EDT

Bank of America has expanded its mobile wallet capabilities for corporate clients in EMEA and APAC. The bank first launched mobile wallet in the United States and Canada in 2018, and this expansion makes it the first commercial bank issuer to offer the technology to corporate clients worldwide.

The bank’s clients who use its Corporate Travel and Purchasing cards in EMEA and APAC are now able to use Apple more...

4/30/20 10:15 am EDT

Today, Bank of America released its Task Force on Climate-related Financial Disclosures (TCFD) Report, reflecting its support for disclosure and transparency of climate-related business risks and its focus on ensuring climate-related risks and opportunities are properly managed within its business. The company’s TCFD Report articulates how it evaluates the impact of climate change on its business, effectively manages those risks, and continues to enhance its understanding of how to measure and model climate-related risks and their potential significance.

“At Bank of America, our more...

12/2/19 9:30 am EST

Bank of America has been named Derivatives House of the Year, winning the flagship award at the Risk Awards 2020, hosted by Risk.net in London. Bank of America was also awarded Equity Derivatives House of the Year and OTC Client Clearer of the Year.

The firm’s growing presence in Europe was a key factor behind Risk’s decision to award Bank of America these global accolades. “The firm’s new home in Paris has brought more European clients to the Street’s most consistent markets franchise,” said Risk.

“We are honored to see our investment in our people and our business achieve more...

11/21/19 4:00 am EST

This week, Bank of America is hosting campus recruitment roadshows in Lagos, Nigeria and Accra, Ghana, aiming to engage and recruit talent across the continent. Over five days, the roadshows will gather approximately 500 students across West Africa, and offer both internships and full-time positions across various divisions, including Investment Banking, Global Markets, Technology and Operations, and Research, for roles in London, Dublin, Paris and New York.

Over five days, students will get a preview of what it is like to work in a range of roles at Bank of America. Through more...

10/21/19 9:00 am EDT

Bank of America is leading the future of digital transformation with its continued investment in CashPro®, the platform used by thousands of businesses around the world to manage payments, receivables and deposits. Today, the bank is introducing a series of new capabilities that increase efficiency, transparency and mobility for business customers. These updates are making business easier for the bank’s clients:

  • Digitized KYC (Know-Your-Customer) Refresh. One of the biggest pain more...
10/17/19 10:00 am EDT

Businesses large and small have a common challenge: choosing the best, most efficient payment channels for hundreds or thousands of recipients. Deciding between card, wire, automated clearinghouse (ACH) or supply chain finance depends on the nature of each individual supplier and is a complex, time-consuming task.

To address that client need, Bank of America Merrill Lynch has introduced Accounts Payable more...

9/25/19 4:00 am EDT

Cross-currency transactions are an increasingly common and valuable part of business for small and medium-sized enterprises. To help those companies add certainty in the often volatile world of foreign exchange rates, Bank of America Merrill Lynch (BofA Merrill) now offers its financial institution (FI) clients a fully integrated FX risk management program, which includes guaranteed FX rates for up to 180 days for their qualified customers.

Similar to what BofA Merrill already offers its corporate clients, the guaranteed rates program benefits both FIs and their customers by more...

7/29/19 4:50 pm EDT

Bank of America and First Data, now Fiserv, today announced that they will pursue independent merchant services strategies beginning June 2020, when the contract concludes for the companies’ joint venture, Banc of America Merchant Services. Bank of America and First Data have an agreement to provide uninterrupted delivery of products and services to Banc of America Merchant Services’ clients through at least June 2023. Going forward, First Data will be an important service provider supporting Bank of America’s global payment solutions.

“Payments are at the core of our business, more...

7/15/19 9:00 am EDT

Bank of America has retained its ranking as a top issuer of Visa and Mastercard commercial credit and prepaid solutions in the U.S. The 2018 rankings were published by The Nilson Report, a financial industry publication covering card and mobile payments.

Bank of America’s commercial card programs are managed within the Global Transaction Services (GTS) business that develops solutions to address a company’s overall treasury and working capital needs.

7/11/19 9:00 am EDT

Euromoney magazine has named Bank of America the World’s Best Bank for Diversity and Inclusion. This is the second consecutive year and third time in four years that Bank of America has been recognized in this category. Bank of America received Euromoney’s inaugural D&I award in 2016.

The global D&I award goes to the firm that shows a strong track record for initiatives promoting diversity and inclusion within their own company, and the markets and industry more generally. The winning company must also demonstrate that their diversity policy is having a positive effect on more...

6/7/19 9:00 am EDT

This week, Bank of America welcomed its most diverse class of summer interns to the company. The global class of more than 1,500 interns is 47 percent female (up from 45 percent last year), and its U.S. class is 57 percent people of color (up from 55 percent last year).

Bank of America has a multi-faceted recruitment process that puts the focus on the candidate experience and recruiting the most diverse slate of talent into its programs. Through strong diversity partnerships and a global footprint, the company hires from more...

5/14/19 9:00 am EDT

Bank of America Merrill Lynch has taken another step on its digital transformation journey with the introduction of Apple Watch capabilities into the CashPro ecosystem. With this development, CashPro Mobile users will be able to pair their Apple Watch with their mobile token and generate a one-time password, delivering even greater convenience by:

  • Making the security of a token available directly from Apple Watch.
  • Eliminating the need to keep a physical token.
  • Accelerating the ability to more...
3/20/19 10:00 am EDT

Bank of America recently received several awards for its Global Transaction Services (GTS) business. The recognition highlights the bank’s leadership in digital solutions, innovation, service quality and global consistency across Asia, Europe, North America and South America. The accolades came from industry publications and research firms that conduct surveys with businesses, including the bank’s own clients.

For innovation, the analyst firm Aite Group named Intelligent Receivables as Product Development more...

12/3/18 2:00 am EST

Bank of America has announced the successful completion of the cross-border merger of its U.K. banking entity into Bank of America Merrill Lynch International Designated Activity Company (BAMLI DAC) on December 1, following the receipt of all necessary regulatory and court approvals. BAMLI DAC, headquartered in Dublin, is now the company’s principal European banking entity, operating through branches in Amsterdam, Brussels, Frankfurt, London, Madrid, Milan, Paris and Zurich.

Commenting on the completion of the merger, Anne Finucane, chair of BAMLI DAC, stated: “We are pleased to more...

11/6/18 4:00 am EST

Today, Bank of America Merrill Lynch opens applications for its 10th UK Returning Talent programme. Individuals who have been out of work for 12 months or longer – for example, stay-at-home parents or carers, or someone who has chosen to take a career break – are invited to apply via the company's Careers site. The application closing date is 15 December 2018. The conference and workshops will take place in February 2019.

Bank of America more...

11/5/18 11:00 am EST

Bank of America Merrill Lynch today announced its upcoming addition of document exchange and e-signature capabilities in CashPro® Assistant, an online bank administration tool that helps commercial and corporate clients more easily conduct standard account management transactions as well as access and analyze their banking information.

Exchanging documents and enabling electronic signing over the authenticated CashPro platform simplifies a cumbersome paper-based process. Examples of documents to be exchanged and signed include know-your-customer, legal agreements, account opening more...

10/22/18 9:30 am EDT

Bank of America Merrill Lynch today announced enhancements to AutoFX, its automated currency conversion product for financial institutions. The new capability uses data analytics to make settlements faster, less expensive and more certain for the sending bank. AutoFX now also allows users to customize criteria for automated conversion.

AutoFX enables a bank sending a cross-border payment on behalf of its client to have BofA Merrill automatically convert the payment into the recipient’s local currency. The integration of new data analytics better enables AutoFX to quickly qualify more...

9/26/18 9:00 am EDT

Bank of America Merrill Lynch (BofA Merrill) is accelerating its investment in mobile capabilities, and today is introducing a second wave of enhancements for 2018 that improve the CashPro Mobile user experience.

The new features that are available now offer a simpler and more...