Bank of America Merrill Lynch Strengthens Global Corporate Banking Platform with Seven Key Hires

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Firm to Significantly Grow Corporate Banking Platform around the World

Bank of America Merrill Lynch today announced a series of new hires to its Corporate Banking platform around the world.  They are, in London, Carole Berndt and Wayne Scott; in New York, Denise Menelly; in Hong Kong, Charles Alexander, Ivo Distelbrink and Tim Fleming; and in Singapore, Percy Batliwalla.

The company is an industry leader in corporate banking in the U.S. with No. 1 positions across a range of categories, including treasury management and merchant services and is aggressively growing its corporate banking capabilities globally.

“We are expanding our Corporate Banking platform. These significant hires will help drive the business forward and will enhance our ability to meet the dynamic corporate banking needs of our clients around the world,” said Paul Donofrio, head of Global Corporate Banking.  “Corporate Banking is a core business for Bank of America in the U.S. and through our acquisition of Merrill Lynch, we gained access to hundreds of investment banking and global markets clients in EMEA and Asia to whom we can now provide a complete range of financial solutions.”

Charles Alexander will join the firm in June as head of Asia Pacific Corporate Banking Coverage, reporting globally to Joel Van Dusen, global head of Corporate Banking Coverage, and regionally to Brian Brille, president, Asia Pacific. Alexander will join the bank in Hong Kong from Standard Chartered, where for the past two years he has been regional head of origination and client coverage for North East Asia. Prior to that, he spent 10 years at Lehman Brothers in London and Hong Kong, most recently as head of corporate finance for Asia ex-Japan. Earlier in his career, he spent over 10 years with JP Morgan in London, Mumbai, Singapore and Hong Kong, most recently as head of M&A, Emerging Asia.

Percy Batliwalla will join in May as head of Asia Pacific Financial Institutions Treasury Sales.  He will be based in Singapore reporting to Dub Newman, head of Global Treasury Sales, and will be responsible for growing the firm’s market share in providing treasury services to Asia Pacific-based bank and non-bank financial institutions. Batliwalla will join from JP Morgan where he spent six years, most recently as the head of Financial Institutions, Treasury Services Sales Asia Pacific. Batliwalla is a career banker with a wide breadth of banking experience including roles in corporate banking, corporate finance, structured trade and corporate audit. His prior experiences include a stint with GE Capital Services India as the Corporate Finance Sales Head for Western India and various assignments with American Express Bank in India and Singapore.

Tim Fleming will join in May as head of Asia Pacific Corporate Treasury Sales, also reporting to Newman.  Fleming will be located in Hong Kong to spearhead the firm’s provision of treasury services to large corporate and multi-national firms in the Asia Pacific region. Fleming will join from Citibank, where he has spent the last 18 years, most recently as head of Treasury and Trade Solutions Sales in China. He brings nearly 25 years of experience in cash management, transaction services and sales in Europe and Asia with firms including Citibank, Diners Club International and British Airways.

Denise Menelly will join in May as chief operating officer, Global Treasury Sales. Located in New York, she will be responsible for Global Treasury Sales strategy and development including implementing sales performance processes globally to capture market share and deepen client relationships. In addition, she will focus on capturing competitive knowledge across corporate banking industries and regions. She will report to Newman. Menelly will join from Royal Bank of Scotland (RBS), where she has been the Americas chief operating officer and a vice chairman at Citizens Bank. She will bring to the firm more than 25 years of experience in global corporate banking. Previously, she spent 12 years with Citigroup, most recently as a member of the Management Committee for Citigroup Global Transaction Services (GTS). In GTS she served in several roles including head of Global Operations for Securities and Fund Services, head of Global Client Delivery and Implementation, and Global Process head for Cash Management Operations. Earlier, Menelly spent 13 years in leadership roles in global corporate banking at Bankers Trust Company.

Wayne Scott, head of EMEA Financial Institutions Treasury Sales, joined Bank of America Merrill Lynch in January and is based in London. Reporting to Newman, he is responsible for growing the firm’s relationships and market share with EMEA-based bank and non-bank financial institutions. Scott was most recently head of Financial Institutions for Western Europe at RBS and possesses substantial technical knowledge of global cash management and payments, which he gleaned over 33 years in international banking with RBS, Wachovia and Barclays.

As announced earlier this month, Carole Berndt, head of EMEA Global Treasury Services located in London, and Ivo Distelbrink, head of Asia Pacific Global Treasury Services located in Hong Kong, have joined the firm from Citibank. They will play a key role in building Bank of America Merrill Lynch’s corporate banking market share in their respective regions. Working with global partners, they are responsible for developing and executing an integrated strategy for the full end-to-end regional treasury business in their respective regions, including treasury sales for multi-nationals, large local corporates and financial institutions; trade finance; fulfillment and service; technology and operations; and product innovations, development and management. They report to Van Dusen.

Bank of America

Bank of America is one of the world’s largest 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 59 million consumer and small business relationships with 6,000 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world’s leading wealth management companies and is a global leader in 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 more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and 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, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities.  Investment products offered by Investment Banking Affiliates:  Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed

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