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 recognition through these global awards,” said Tom Montag, Bank of America chief operating officer and president of Global Banking and Markets. “The steadfast nature of our franchise reflects the unwavering commitment of our colleagues to our clients, our partners in the industry, and the communities we serve.”
According to Risk, “The stability of the firm’s sales and trading revenues speaks to the management team’s piloting skills…customers in turn praise the firm for its consistency and steadiness – something Montag values and that he attributes to its prudent approach to capital and risk management.”
The magazine also stated: “…a laser focus on clients, research and technology, coupled with a judicious approach to risk-taking and capital management... has contributed to a string of impressively consistent results for the bank’s markets business.”
Risk acknowledged the clarity of Bank of America’s regional vision across Europe, while also noting that the firm is leveraging innovative technology and its trading expertise to bring sophisticated solutions to its clients around the world.
For more information, read the full story on Risk.net.
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,400 lending centers, 2,600 financial centers with a Consumer Investment Financial Solutions Advisor and 1,900 business centers; approximately 16,600 ATMs; and award-winning digital banking with nearly 38 million active users, including approximately 29 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
“Bank of America Merrill Lynch,” “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.