Bank of America Merrill Lynch Expands Transaction Services in Canada

The bank is creating targeted client teams and product enhancements for its business customers in that country.

Bank of American Merrill Lynch this week announced the expansion of its Global Transaction Services (GTS) business in Canada.

The bank is creating targeted client teams and product enhancements for its treasury management customers in Canada. As part of the expansion, Hany Naguib, acting as senior GTS representative, will oversee the bank’s corporate clients. 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, the bank said.

Additionally, BofA Merrill said it'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.

BofA Merrill has been an active firm in Canada for over 50 years.

Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio