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Top related persons:
Alex Bettamio - 1 Thomas Sheehan - 1 Faiz Ahmad - 1 Sarang Gadkari - 1 Ahmad - 1 Bilgi Zapparoli - 1 Bernie Mensah - 1 BofA's - 1
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America U.S Asia Pacific
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YORK - 1 Bank of America Corp - 1 Sarang - 1 Global Transaction Services - 1 Bank of - 1 GTS - 1 Asia - 1 Thomson - 1

Search resuls for: "Global Transaction Services"


6 mentions found


☆ Exclusive: Bank of America promotes Bettamio to co-head of investment banking; Ahmad to co-head capital markets
  + stars: | 2023-06-08 | by ( Lananh Nguyen | Thomson Reuters | Lananh Nguyen Is The U.S. Finance Editor At Reuters In New York | ) www.reuters.com   time to read: +1 min
NEW YORK, June 8 (Reuters) - Bank of America Corp (BAC.N) promoted the head of its Latin America business, Alex Bettamio, to co-head of global investment banking alongside Thomas Sheehan, according to a memo seen by Reuters on Thursday. It also elevated Faiz Ahmad to jointly lead global capital markets with Sarang Gadkari. Bank of America's investment-banking revenue rose 19% to $6.2 billion in the first quarter, its second-best quarter for revenue, even as investment banking fees sank 20%. Jin Su will become the bank's sole president for the Asia Pacific region when Seguchi retires. Peter Guenthardt will lead global corporate investment banking in the region.
Persons: Alex Bettamio, Thomas Sheehan, Faiz Ahmad, Sarang Gadkari, Ahmad, Bilgi Zapparoli, Bernie Mensah, BofA's, Mark Monaco, Augusto Urmeneta, Jiro Seguchi, Jin Su, Seguchi, Peter Guenthardt, Lananh Nguyen, Lisa Shumaker Organizations: YORK, Bank of America Corp, Reuters, Sarang, Global Transaction Services, Bank of, GTS, Asia, Thomson Locations: America, U.S, Asia Pacific
☆ Singapore's DBS expects yearly earnings to beat $7.5 bln in medium term
  + stars: | 2023-05-22 | by ( Navya Mittal Yantoultra Ngui | Navya Mittal | Yantoultra Ngui | ) www.reuters.com   time to read: +2 min
The forecast is 22% higher than the S$8.19 billion annual net profit it achieved in 2022. Its ROE was 15% last year, while its CET1 ratio was 14.6%, according to its 2022 annual report. DBS said faster growth in capital-light high-ROE businesses such as wealth management, global transaction services and treasury market sales will help it achieves its goals. DBS aims to be among the top 10 private sector banks in India, projecting net profit to triple to around S$375 million by 2026, according to the slides. ($1 = 1.3245 Singapore dollars)Reporting by Navya Mittal in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.
☆ Bank of America opens Luxembourg branch in Europe funds push
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +2 min
LONDON, May 10 (Reuters) - Bank of America (BAC.N) has hired former BNP Paribas banker Benoit Nevouet to be the manager of a newly created Luxembourg branch as the U.S. lender seeks to grow its business in Europe, a senior executive at Bank of America told Reuters. The opening of a branch in the small but wealthy country will mean Bank of America can help clients such as investment funds with local bank accounts and other services, said Matthew Davies, head of the U.S. lender's global transaction services unit for Europe, Middle East and Africa. Bank of America is first focused on bringing across existing clients which it served from a partner bank in Luxembourg to its new branch, Davies told Reuters. The U.S. bank is also hiring a dedicated money laundering reporting officer, as well as an initial handful of other support staff in functions such as compliance, risk and legal, to support the Luxembourg branch, Davies said. Bank of America's transaction services business accounts for some 10% of the lender's overall revenues, helping large multinational corporations with routine but vital products such as making payments and managing their cash.
☆ Bank of America announced a new class of managing directors — here are all 87 names in corporate and investment banking
  + stars: | 2023-01-26 | by ( Alex Morrell | ) www.businessinsider.com   time to read: +3 min
Bank of America has announced a new class of 360 managing directors. Insider has the list of the 87 new MDs for the firm's Global Corporate and Investment Bank. It's managing director promotion day at Bank of America. On Thursday, the class of 360 managing directors across the firm were announced internally, up 15% from the 314 promoted in 2022.Insider has the list of the 87 employees who were promoted in the firm's Global Corporate and Investment Bank — the division responsible for dealmaking. That's down 17% from 105 new MDs last year in the division, likely a reflection of a difficult year in investment banking across Wall Street that saw revenues drop in excess of 50%.
☆ Rising Rates Boost Companies’ Focus on Working Capital Management
  + stars: | 2022-11-03 | by ( Nina Trentmann | Kristin Broughton | ) www.wsj.com   time to read: +5 min
Higher interest rates are putting more pressure on companies to free up cash from their operations, a cheaper option than relying on credit. PREVIEWRising financing costs are one of several factors pushing companies to improve how they manage working capital, alongside high inventory levels and persistent inflation. “The only difference now is that with your cost of capital being higher, sometimes the economics change, but we’re always looking at working capital,” he said. “Working capital management comes more in focus,” Mr. Fracassa said, as it costs more for companies to draw on their revolving lines of credit with today’s higher rates. “It was kind of the unique rebuild period for working capital,” Mr. Wells said.
☆ Rising Rates Boosts Companies’ Focus on Working Capital Management
  + stars: | 2022-11-03 | by ( Nina Trentmann | Kristin Broughton | ) www.wsj.com   time to read: +6 min
Higher interest rates are putting more pressure on companies to free up cash from their operations, a cheaper option than relying on credit. PREVIEWRising financing costs are one of several factors pushing companies to improve how they manage working capital, alongside high inventory levels and persistent inflation. “The only difference now is that with your cost of capital being higher, sometimes the economics change, but we’re always looking at working capital,” he said. “Working capital management comes more in focus,” Mr. Fracassa said, as it costs more for companies to draw on their revolving lines of credit with today’s higher rates. “It was kind of the unique rebuild period for working capital,” Mr. Wells said.
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