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Bank of America Merrill Lynch Expands Global Corporate Banking Platform

Bank of America Merrill Lynch has strengthened global corporate banking platform by hiring Carole Berndt and Wayne Scott in London, Denise Menelly in New York, Charles Alexander, Ivo Distelbrink and Tim Fleming in Hong Kong and Percy Batliwalla in Singapore.

Mr Alexander will join the firm 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 of Asia Pacific.

Mr 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.

Mr Batliwalla will join 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.

Mr Batliwalla will join from JP Morgan where he spent six years, most recently as the head of financial institutions, treasury services sales Asia Pacific.

Mr Fleming will join as head of Asia Pacific corporate treasury sales, also reporting to Mr Newman. Mr 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.

Mr 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.

Ms Menelly will join 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.

Ms Menelly will report to Mr Newman. She 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.

Wayne Scott, head of EMEA financial institutions treasury sales, joined Bank of America Merrill Lynch in January and is based in London. Reporting to Mr Newman, he will be responsible for growing the firm’s relationships and market share with EMEA-based bank and non-bank financial institutions.

Mr Scott was most recently head of financial institutions for Western Europe at RBS and possesses technical knowledge of global cash management and payments, which he gleaned over 33 years in international banking with RBS, Wachovia and Barclays.

Earlier, 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 major role in building Bank of America Merrill Lynch’s corporate banking market share in their respective regions.

Working with global partners, Ms Berndt and Mr Distelbrink will be 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 will report to Mr Dusen.

Paul Donofrio, head of global corporate banking at Bank of America Merrill Lynch, said: “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.

“Corporate banking is a core business for Bank of America in the US 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.”