NEW YORK--(BUSINESS WIRE)--Bank of America Merrill Lynch was recently named winner of eight awards by financial trade publication, “Treasury Management International (TMI),” in its annual Awards for Innovation & Excellence in Treasury.
Topping the recognition list for the firm’s Global Transaction Services (GTS) business were Global Bank of the Year for Cash & Liquidity Management and Global Bank of the Year for Financial Supply Chain Management. Both awards highlighted global excellence in each business line, alongside regional awards for:
- Best Bank for Cash & Liquidity Management – North America
- Best Bank for Cash & Liquidity Management – South America
- Best Bank for Payments & Collection – North America
- Best Bank for Payments & Collection – India
- Best Bank for Financial Supply Chain Management – Asia Pacific (excl. China)
The magazine also acknowledged the success of BofA Merrill’s commercial card solution, Travel Pro, that aims to revolutionize how companies manage their business travel expenditure. For this innovation, the firm was awarded Best Card Solution in the magazine’s Technology Innovation Awards.
“We are honored to receive this recognition from TMI,” said Paul Donofrio, head of Global Corporate Credit and Transaction Banking at BofA Merrill. “It’s a testament to the strength and diversity of our treasury solutions that this top-tier publication has recognized the firm’s excellence across cash, liquidity, payments and supply chain finance. We look forward to replicating similar successes in 2015, helping our clients manage and improve their treasury practices globally.”
Helen Sanders, editor, TMI, adds, “Bank of America Merrill Lynch’s success in this year’s TMI awards reflects the remarkable progress the bank continues to make across the globe in offering comprehensive, robust and client-centric solutions across cash and working capital management. We were particularly impressed by the bank’s ability to devise and deliver cohesive regional and global solutions whilst remaining sensitive to the regulatory and cultural needs in each country, and the specific challenges of each customer organization.”
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 48 million consumer and small business relationships with approximately 4,800 retail banking offices and approximately 15,800 ATMs and award-winning online banking with 31 million active users and approximately 17 million mobile 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 3 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 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, which is a registered broker-dealer and a member of FINRA and SIPC, and, in other jurisdictions, 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.
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