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TheStreet Open House

BofA Merrill Global Transaction Services Clients Actively Pursue Transformation

For further insight into transformation and other treasury topics, conference attendees were given a copy of the report Treasury Insights for Total Connectivity, produced by the BofA Merrill North America GTS team in conjunction with Treasury Management International magazine.

“Resilient and battle scarred, today’s treasurers have much to be proud of,” states Dub Newman, head of North America GTS, in the introduction to the report. “They have come through the financial crisis with stronger teams and greater influence than ever before. As companies shift their focus from survival to growth, what systems and strategies can be used to take advantage of the opportunities ahead?”

Among the topics featured in the report are:

  • How treasurers can add value when integrating acquisitions.
  • How Bechtel Group, Inc., implemented a global operating model.
  • Optimizing foreign exchange risk management.
  • Making the move from paper to electronic payments.
  • How the Bank Payment Obligation is used for settlement of international trade transactions.
  • How Alliance Lite2 has jump-started corporate interest in using SWIFT for financial transaction connectivity.
  • The evolution of lockbox services in light of reduced check volumes and potential postal service cutbacks.

“During the crisis, treasurers spent significantly more time with their chief executive officer and boards of directors, discussing where the company’s money was and how to make the best use of working capital,” Newman adds. “As a result, treasury has naturally been elevated to a more strategic role within the organization.”

Bank of AmericaBank of America is one of the world's largest 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. We serve approximately 51 million consumer and small business relationships with approximately 5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in 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 more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

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