Bank of America Merrill Lynch Continues to Hire Senior Talent to Support Growth in Prime Brokerage Business

NEW YORK--(BUSINESS WIRE)--Bank of America Merrill Lynch today announced that Michael Terry will join the company as global head of capital introductions, responsible for leading the expansion of the company’s capital introduction efforts. Terry will be based in New York and report to Jon Yalmokas, head of U.S. prime brokerage sales.

“As we attract new clients and grow our balances, we continue to invest in talent like Michael to better meet the demand from hedge fund and investor clients for our financing, prime brokerage and futures products and services”

“Michael’s capital raising experience brings knowledge and contacts to our team which will help us to further expand our hedge fund presence and help clients navigate an increasingly complicated investor landscape,” said Yalmokas.

Terry joins the company from Oakpoint Advisors, where he was a founding member and responsible for vetting prospective clients as well as pitching and winning new business. Prior to that, he was head of North American capital introductions at Morgan Stanley. Terry previously was a vice president at Frontpoint Partners where he helped raise more than $1 billion for six funds.

“As we attract new clients and grow our balances, we continue to invest in talent like Michael to better meet the demand from hedge fund and investor clients for our financing, prime brokerage and futures products and services,” said Stu Hendel, head of Global Prime Brokerage. “I’ve known Michael for many years and I’ve seen the tremendous positive impact that he has had on a number of clients,” he added.

Bank of America Merrill Lynch's prime brokerage platform was ranked No. 1 in capital introductions and No. 1 in Europe in Global Custodian's 2011 Prime Brokerage Survey. In addition, the company was named Best Synthetic Provider in Global Investor/isf's 2010 Synthetic Financing Survey and Most Innovative in Prime Brokerage for 2010 by The Banker magazine.

Bank of America Merrill Lynch is a leading global provider of equity, options and futures trading, sales and research services to mutual funds, hedge funds, broker-dealers, pensions, endowments and other institutions.

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 58 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,800 ATMs and award-winning online banking with 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 approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 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, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Merrill Lynch Professional Clearing Corp, which are 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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