Bank of America Merrill Lynch expands transaction services offering in Canada
NEW YORK — Bank of America Merrill Lynch is expanding of its Global Transaction Services (GTS) business in Canada. The planned growth maps onto the firm’s increasing base of clients doing business in Canada and will enable BofA Merrill to better serve and meet the needs of those clients.
The GTS team will be led by Hany Naguib, who brings over 30 years of experience in the Canadian market. Naguib will be responsible for driving overall GTS growth, leadership across the GTS team and acting as senior GTS representative to the market, in addition to directly overseeing the bank’s large corporate clients. BofA Merrill’s Canadian-based team will also include a dedicated team of treasury officers focused on serving small to middle market companies, to be led by Katie Simpson in Toronto. Other key Canadian-based GTS leaders include Maureen Jarvis, product management; Susan Aparicio, operations; and Alan Keast, technology.
“We are well positioned to be a leading provider of banking services in Canada,” said Paul Simpson, head of Global Transaction Services. “We offer GTS products that are market-leading, combining local service that is fully integrated with our global operations and a complete product suite which is increasingly important to Canadian clients.”
BofA Merrill is the largest global financial institution in Canada. The firm has been active in Canada for more than 50 years.