Awards for Excellence 2015: Best global transaction services house
Remarkable client focus and pioneering product development have helped Bank of America Merrill Lynch to retain its award.
Best global transaction services house:
Bank of America Merrill Lynch
Bank of America Merrill Lynch has held on to the best global transaction services house for the second year running.
It took the prize last year based on an impressive merging of cultures to create a collaborative operating approach and strategic targeting of its prime customer base. But in the ever-evolving transaction banking market, merely continuing a pattern of success would not be enough to scoop the prize again.
BAML needed to produce something impressive to remain ahead of some very stiff competition – and it delivered. The scope of innovation and the bank’s success at winning new business made it hard to beat. While many banks say they are putting clients at the heart of their operations, BAML is building its operations around customer needs.
BAML has very effectively continued its selective approach to its client base. Rather than attempting to cover every business in every geography, it targets larger US-based businesses. It deliberately does not seek out smaller companies that could be better served by local banks.