Bank of America Merrill Lynch Announces Global Corporate Banking Leadership

Donofrio to Lead Business

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Feb 17, 2010, 09:00 ET

LONDON and NEW YORK, Feb. 17 /PRNewswire/ -- Bank of America Merrill Lynch today announced that Global Corporate and Investment Banking executive Paul M. Donofrio will lead the company's Global Corporate Banking business. This move follows the recent announcement that Cathy Bessant, former head of Global Corporate Banking, has been appointed Global Technology and Operations executive for Bank of America. Donofrio, who is based in London, continues to report to Global Banking and Markets President Tom Montag.

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The company is an industry leader in corporate banking in the U.S. with No. 1 positions across a range of categories, including cash management, treasury management and merchant services.

"The international expansion of our Corporate Banking business is one of Bank of America Merrill Lynch's highest priorities and greatest growth opportunities," said Montag. "The combination of Bank of America and Merrill Lynch has truly enhanced our ability to serve clients through a broader range of customized financial solutions across a global footprint. I'm confident that with Paul at the helm, we will continue to build on our progress and realize the full potential of the Bank of America Merrill Lynch platform."

"The opportunity to lead an international business that is so integral to deepening client relationships across the full spectrum of our investment, corporate and global markets products is incredibly exciting," said Donofrio. "We look forward to bringing the power of the organization to our clients."

Donofrio will continue to work in close partnership with Global Corporate and Investment Banking executives Michael Rubinoff and Purna Saggurti, who will lead Global Investment Banking.

Since joining the company in 1999, Donofrio has served as head of global healthcare, consumer and retail, and technology, media and telecom investment banking. He played a critical role during the merger of Bank of America and Merrill Lynch, leading for Bank of America the integration of the corporate and investment banking businesses.

In September 2009 he was named Global Corporate and Investment Banking executive responsible for leading investment banking globally and partnering closely with Global Corporate Banking to deliver a fully integrated platform.

Prior to joining the company, Donofrio was a senior member of the healthcare group of UBS where he focused on biotech, specialty pharma and large cap pharma companies. He also worked at Kidder, Peabody & Company in the healthcare, technology and debt restructuring groups.

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 59 million consumer and small business relationships with 6,000 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 more than 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 Merrill Lynch