BofA to expand Canadian global transaction services

bank of america merill lynchBank of America Merrill Lynch announced on Monday plans to expand its global transaction services in Canada to meet the needs of its growing base of clients.

“The enhancement of our GTS business is just the latest example of our firm’s focus on helping our clients conduct business in Canada,” Adam Howard, BofA’s Canada country executive, said. “We are a diversified wholesale financial institution in Canada, providing investment and corporate banking services, as well as global markets products, to our clients.”

The expanded GTS division will be headed by Hany Naguib, who will be responsible for GTS growth, leadership and representation in the market. The GTS team will also include a number of treasury officers focused on the needs of small and mid-market firms, under the leadership of Katie Simpson.

“We are well positioned to be a leading provider of banking services in Canada,” Paul Simpson, the head of BofA’s global transaction services, said. “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.”

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