BofAML revamps global transaction services leadership structure in AsiaPac

See who will be leading which department.

According to a release, the GTS Asia Pacific franchise is on a high growth trajectory, taking significant market share across products, segments and countries. To continue to build on our success we are delighted to announce the following enhancements to our GTS leadership structure in the region, a natural evolution leveraging talent and best practices in the team.

The new leadership team in Corporate and FIG Sales adds significant structure, foundation and functional specialization, ever so important as we continue to grow and build scale. Clients in the Asia Pacific region continue to demand world-class execution, the below appointments confirm our unrivaled commitment to consistently deliver for our clients and the firm.

Corporate Sales

Nirmal Khaderia is appointed head of Asia Pacific Corporate Sales. All country corporate sales heads in the region will report to Nirmal. Nirmal joined in 2011 as head of India Sales and was subsequently appointed head of India GTS. Prior to joining Bank of America Merrill Lynch, Nirmal worked for Citibank in Global Transaction Services Regional Sales. Nirmal has 16 years of leadership experience in sales and coverage and excels in all facets of client sales management. Nirmal will remain head of India GTS and continue to be based in Mumbai. He will relocate to Hong Kong in due course.

Stefan Leijdekkers will continue to run the regional corporate sales team, our senior most transactors handling pan-Asia client solutioning. Prior to joining in 2011, Stefan worked with Citibank Global Transaction Services in Japan as head of Client Sales Management and Bank Services Group, before which he was a senior regional sales consultant and sales head for Power, Energy, Chemicals and Metals and Mining clients in the region. Stefan also held positions with Citi in Jordan, Egypt and the Netherlands. Stefan will relocate from Hong Kong to Singapore, recognizing the strong concentration of Regional Treasury Centers (RTCs) and Shared Service Centers (SSCs) headquartered in that market, and a need for improved senior coverage of these names.

Both Stefan and Nirmal will report to Percy Batliwalla, head of Asia Pacific Sales, who is based in Singapore.

FIG Sales

Soumen Sircar is appointed head of Asia Pacific FI Banks, based in Hong Kong. Over the past two years, Soumen successfully lead our Non-Bank Financial Institutions (NBFI) franchise in region, winning the Best NBFI Bank in Asia at The Asset Triple A Awards last year. Prior to joining Bank of America Merrill Lynch, Soumen was with JPMorgan, most recently as head of FI for India and South Asia. In total he brings 18 years of financial services industry experience to his new role.

Aziz Parvez who has been leading our FI Product Sales Specialist team in the region is appointed head of FI Non-Banks, Asia Pacific. Aziz brings 19 years of banking and financial industry experience across multiple firms to the role, and is a recognized industry expert in treasury, liquidity, clearing and trade for Financial Institutions. Aziz will partner closely with GMG and Global Custody and Agency Services (GCAS) as we work to increase our GTS market share in this important but currently still underpenetrated client segment. He will continue to be based in Singapore.

Biren Zandani will continue to lead our initiative with Public Sector names in the region from Singapore.

Soumen, Aziz and Biren will report to Percy Batliwalla, head of Asia Pacific Sales.

These enhancements to our leadership structure in Corporate and FIG Sales will bring about a greater focus on key client segments of our business, enhancing consistency in sales coverage across countries and further facilitating global teamwork across the enterprise. Please join me in wishing them much success in their new roles.