NEW YORK--(BUSINESS WIRE)--Bank of America Merrill Lynch today announced that Jeff McLane has been named president of Bank of America Business Capital.
McLane most recently was head of Asset-Based Capital Markets for Bank of America Merrill Lynch, and has been with the company and predecessor institutions for 15 years. He is based in New York and reports to Laura Whitley, Middle Market Banking executive in Global Commercial Banking.
“Jeff brings strong knowledge and deep passion for the asset-based lending business to this role. His expertise and leadership will be crucial as we work closely with clients to provide the best solutions in this still-challenging economy,” Whitley said. “Asset-based lending remains a powerful tool for businesses, offering a unique flexibility in structure that is valuable in any economic cycle.”
McLane leads a team of nearly 400 people in more than 20 offices responsible for asset-based loan origination, underwriting and portfolio management with clients in the U.S., Canada, Asia and Europe. With a 33 percent share of the market, BABC was the No. 1 lead arranger in 2010, according to Thomson Reuters. BABC ranked first in both the number of deals at 149 and in loan volume at more than $20.5 billion.
McLane holds Series 7, 24 and 63 securities licenses. He earned a bachelor’s degree from Babson College in Massachusetts and is a member of the Board of Overseers at the college.
For more information on Bank of America Business Capital, visit www.bankofamerica.com/businesscapital.
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 57 million consumer and small business relationships with more than 5,800 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 29 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 through operations in more than 40 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.