MEDIA RELEASE PR38259
Bank of America Merrill Lynch Announces Global Capital Markets Leadership
NEW YORK, Feb. 10 /PRNewswire-AsiaNet/ --
Borthwick and Carnoy Named Co-Heads
Bank of America Merrill Lynch today announced that Alastair Borthwick and
Lisa Carnoy have been named co-heads of the company's Global Capital Markets
business. This move follows the recent announcement that Bruce Thompson, former
head of Global Capital Markets, has been appointed chief risk officer for Bank
of America.
The company is an industry leader in capital markets, having completed 2009
as the No. 2 underwriter in global debt, equity and equity-related offerings,
raising more than $347 billion of capital for clients around the world,
according to Dealogic data.
As co-heads of Global Capital Markets, Borthwick and Carnoy will be
responsible for further building the global footprint of the capital markets
business, and will share equal responsibility for all parts of the business
globally. They will report to Global Banking and Markets President Tom Montag.
Borthwick was formerly head of global investment grade capital markets, a
position he held since joining the company in 2005. Carnoy, a 15-year veteran
of the company, was most recently head of global equity and equity linked
capital markets.
"By any measure, our Global Capital Markets business is one of the best in
the world, known for providing companies with access to capital in any
environment through creative solutions and our deep distribution capabilities,"
said Montag. "I'm confident that Alastair, Lisa and their teams will continue
the great work in leading and growing our premier debt and equity capital
markets platform."
Additionally, Montag announced that Rupert Hume-Kendall has been named
chairman of Global Capital Markets. Hume-Kendall will work closely with
Borthwick and Carnoy, and will report to Andrea Orcel, executive chairman,
Global Banking and Markets. "In this role, Rupert will partner with client
coverage and product teams and apply his considerable talents to provide ideas,
innovative solutions, and superior execution to Bank of America Merrill Lynch
clients," said Montag.
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
SOURCE: Bank of America Merrill Lynch
CONTACT: John Yiannacopoulos,
+1-646-855-2314,
john.yiannacopoulos@bankofamerica.com, or
Victoria Garrod,
+44-207-955-4437,
victoria.garrod@baml.com,
both of Bank of America Merrill Lynch
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