Bank of America Merrill Lynch Names Robert Arth President of Bank of America Business Capital

NEW YORK May 3 /PRNewswire/ -- Bank of America Merrill Lynch today announced that Robert Arth has been named president of Bank of America Business Capital, based in New York.

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"Bob brings tested leadership and years of experience into this role. This is evidenced by how he and his team have listened carefully and worked closely with our clients to provide options during this difficult time," said Laura Whitley, Global Commercial Banking Product Delivery executive. "We recognize that asset-based lending solutions are a powerful tool for businesses and offer unique flexibility in structure that is valuable in any economic cycle. Our customized credit and liquidity solutions are designed to meet clients' needs."

BABC has a 34 percent share of the market, and Arth leads a team of nearly 400 people responsible for asset-based loan origination, underwriting and portfolio management with clients in the U.S., Canada, Asia and Europe. BABC was named by Thomson Reuters as the No. 1 lead arranger in 2009 with 105 deals totaling $14.4 billion in asset-based loans.

Arth's prior role was the BABC East Division executive. He has more than 29 years' experience in the banking industry and joined Bank of America with the Fleet Bank merger. Arth had joined Fleet Capital in January 2003, where he held an executive vice president and group manager position while managing their Mid-Atlantic Region. 

Arth earned a bachelor's degree from Hofstra University. He is a FINRA-registered principal and holds Series 7, 24 and 63 securities licenses. He is on the board of directors of the Commercial Finance Association and chairperson of one the advocacy committees, as well as a trustee of National Jewish Health.  

Bank of America Business Capital

Bank of America Business Capital is one of the world's largest asset-based lenders, with more than 20 offices serving the United States, Canada, Asia and Europe. It provides companies with senior secured loans, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products. Capital markets and investment banking services are provided by Banc of America Securities LLC, member NYSE/NASD/SIPC, a subsidiary of Bank of America Corporation and an affiliate of Bank of America Business Capital. Visit www.bankofamerica.com/businesscapitalnews for more information.

Bank of America

Bank 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. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with more than 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active 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 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation.  Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC.  Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities.  Investment products offered by Investment Banking Affiliates:  Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed

www.bankofamerica.com

SOURCE Bank of America

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