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:
“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.”
“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.
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 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 35 million active users, including approximately 24 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 in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
“Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, 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, Merrill Lynch, Pierce, Fenner & Smith Incorporated 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. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. ©2018 Bank of America Corporation.
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Louise Hennessy, Bank of America