BofA Merrill Wins Best in North America and China for Treasury Management

Recognition for “Cash & Liquidity Management” Received From Treasury Management International

February 28, 2018 at 9:00 AM Eastern

Treasury Management International (TMI), a publication focusing on issues affecting treasury and financial professionals, has named Bank of America Merrill Lynch (BofA Merrill) the winner of two Best Bank for Cash & Liquidity Management awards. The awards are part of TMI’s annual Awards for Innovation & Excellence in Treasury Management.

BofA Merrill was named:

  • Best Bank for Cash & Liquidity Management for China
  • Best Bank for Cash & Liquidity Management for North America

“The bank’s strength in North America is well-established and widely recognised, but it is also making a significant impact in China,” said TMI in its awards article. “In January 2017, the State Administration of Foreign Exchange granted special approval to the bank’s China branches to streamline clients’ payment processes for stock option incentive plans through an RMB pending payment account.

“Another successful initiative was the launch of a payments collection service supporting mobile and card payments through China UnionPay Merchant Services Company. As the first non-Chinese bank to offer this end-to-end solution via multiple collection channels in China, Bank of America Merrill Lynch now offers companies in the retail, logistics, and industrial goods sectors an integrated solution that streamlines the process of payments collection and reconciliation.”

“We are delighted to be named Best Bank for Cash & Liquidity Management for China,” said Faisal Ameen, head of Global Transaction Services (GTS), Asia Pacific at BofA Merrill. “The win reflects our continuous commitment to providing market-relevant solutions for clients. We look forward to building on this success and further strengthening our franchise.”

For North America, TMI took note of BofA Merrill’s Intelligent Receivables, CashPro Assistant and Multicurrency Netting, all introduced during the past year.

“Our sales teams stay close to our clients and help us stay ahead of their changing needs and expectations,” said Hilani Kerr, head of North America Large Corporate GTS for BofA Merrill. “Clients commend us for being their trusted treasury partners, which includes helping them leverage this new technology we’ve introduced.”

Galen Robbins, head of BofA Merrill GTS for Global Commercial Banking, Business Banking and Small Business, said “We thank TMI for its consistent recognition of our leadership in treasury management for North America companies over the past several years. This continued honor reflects our unceasing focus on what we can develop and deliver to help treasurers succeed.”

Treasury Management International showcases topical, pragmatic solutions and strategic insights on treasury, cash management, foreign exchange and other issues affecting treasury and financial professionals, together with treasury and finance news, education and opinion.


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