Bank of America Merrill Lynch Announces Global Capital Markets Leadership

Borthwick and Carnoy Named Co-Heads

NEW YORK, Feb. 9 /CNW/ -- Bank of America Merrill Lynch today announced that Alastair Borthwick and Lisa Carnoy have been named co-heads of the company's Global Capital Markets business. This move follows the recent announcement that Bruce Thompson, former head of Global Capital Markets, has been appointed chief risk officer for Bank of America.

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The company is an industry leader in capital markets, having completed 2009 as the No. 2 underwriter in global debt, equity and equity-related offerings, raising more than $347 billion of capital for clients around the world, according to Dealogic data.

As co-heads of Global Capital Markets, Borthwick and Carnoy will be responsible for further building the global footprint of the capital markets business, and will share equal responsibility for all parts of the business globally. They will report to Global Banking and Markets President Tom Montag.

Borthwick was formerly head of global investment grade capital markets, a position he held since joining the company in 2005. Carnoy, a 15-year veteran of the company, was most recently head of global equity and equity linked capital markets.

"By any measure, our Global Capital Markets business is one of the best in the world, known for providing companies with access to capital in any environment through creative solutions and our deep distribution capabilities," said Montag. "I'm confident that Alastair, Lisa and their teams will continue the great work in leading and growing our premier debt and equity capital markets platform."

Additionally, Montag announced that Rupert Hume-Kendall has been named chairman of Global Capital Markets. Hume-Kendall will work closely with Borthwick and Carnoy, and will report to Andrea Orcel, executive chairman, Global Banking and Markets. "In this role, Rupert will partner with client coverage and product teams and apply his considerable talents to provide ideas, innovative solutions, and superior execution to Bank of America Merrill Lynch clients," said Montag.

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

For further information: John Yiannacopoulos, [phone], [e-mail], or Victoria Garrod, [phone], [e-mail], both of Bank of America Merrill Lynch