Cash And Trade Magazine For Cash and Trade professionals in the Middle East
29 September, 2016
LONDON – Bank of America Merrill Lynch has received three accolades across Foreign Exchange (FX) and Global Transaction Services (GTS) in EMEA Finance magazine’s Treasury Services Awards 2016.
The awards, which were presented during a ceremony at Sibos in Geneva, are:
- Best Bank for Foreign Exchange Services in EMEA (fifth consecutive year).
- Best Bank for Foreign Exchange in Europe (fourth consecutive year).
- Best Bank for Treasury Services in EMEA (second consecutive year).
Christopher Moore, publisher of EMEA Finance, commented on the awards, “Bank of America Merrill Lynch has at its core a dedication to serving clients; in the EMEA region and in the FX space, the bank is second to none. In addition to keeping hold of our best FX services in EMEA and Europe for a fifth and fourth consecutive year, respectively, the bank retains our best treasury services in EMEA award, which demonstrates the bank’s capabilities across all areas of transactional banking.
“The bank’s investments into new products and services year-over-year help it to support clients across the globe. This year, we are particularly impressed with the addition of the bank’s FX rate guarantee product called CashPro Flow, which takes the sting out of FX risk by paying and pricing goods in local currency.”
Bryant Park, global head of FX Sales at BofAML, said: “Receiving the awards for Best FX Services in EMEA and Best FX Services in Europe demonstrates the success of our partnership approach to client coverage. By gaining a deep understanding of our clients and how they operate, we are able to create effective solutions that meet their exact needs. These include strategic risk management, integrated payments, efficient electronic solutions and access to our research capabilities.”
Mike Robertson, global head of FX Payments Transactions at BofAML, added, “As part of our efforts to support clients through changing market conditions, we recently launched our FX rate guarantee product called CashPro Flow. CashPro Flow enables clients to lock in FX rates for extended periods of time. This means they can pay for, price, or invoice goods and services in local currency without taking on FX risk. This proposition is available globally for very flexible time frames.”
Jennifer Boussuge, head of GTS EMEA at BofAML, said, “We are proud to be awarded the Best Treasury Services in EMEA accolade by EMEA Finance for the second consecutive year. Our integrated online payment solutions across GTS and FX are just one way in which our ‘one bank’ approach supports clients on a cross-discipline level, helping them achieve their business objectives and delivering tangible value.”
The EMEA Finance Treasury Services Awards have been running for seven years and recognise banks for ingenuity, innovation and investments in cash management, FX and other treasury services.
Bank of America
Bank of America is one of the world’s leading 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 47 million consumer and small business relationships with approximately 4,700 retail financial centers, approximately 16,000 ATMs, and award-winning online banking with approximately 33 million active accounts and more than 20 million mobile active users. Bank of America is a global leader in wealth management, 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 all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
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