Bank of America : BofA Merrill’s Client Solutions Recognized at Tao Zhu Gong Awards 2018

EuroFinance, a leading global provider of conferences and research on cash management, treasury and risk, has recognized a number of Bank of America Merrill Lynch's (BofA Merrill) client solutions at its annual Tao Zhu Gong awards. Alibaba International Core Business Unit, with settlement services designed and implemented by BofA Merrill, was named Most Innovative Treasury Practice, while five other client solutions were also highly commended in the other categories.

The awards are part of EuroFinance's annual Tao Zhu Gong Awards, which recognize excellence and innovation in treasury and finance in China.

• Most Innovative Treasury Practice - Alibaba International Core Business Unit
• Highly commended for:

-         Best Supply Chain Management - Samsonite (China) Co Ltd

-         Best Working Capital Management - Fiat Chrysler Automobiles N.V.

-         Most Innovative Treasury Practice - Cathay Pacific

-         Top Outsourcing Story/Shared Services Story - Suzhou Littelfuse

-         Top Treasury Team/Best Treasury of the Year - Anheuser-Busch InBev NV

'The Most Innovative Treasury Practice is a valued category of the awards because with the development of accounting tools and computer technologies, treasury management has also entered a new stage,' said EuroFinance in its awards article.

'The winner goes to Alibaba International Core Business Unit, which has provided targeted settlement services to its clients through systematically managing and restructuring its cash settlement procedures and services nodes, thus enabling the medium and small-sized sellers to benefit more from technological improvements and economies of scale,' the magazine continued.

'We are delighted that our clients have been recognized for their efforts to bring efficiency and innovation to their businesses. Our aim has always been to act as their trusted advisor, build long-term partnerships and assist them in their growth stories,' said Cathy Dou, head of China Global Transaction Services, at BofA Merrill.

'Our clients are at the core of our business. And by leveraging our global platform, we are able to bring best-in-class technology and innovation to address their needs as they continue to expand regionally and globally,' said Faisal Ameen, head of Asia Pacific Global Transactions Services for BofA Merrill. 'Our clients trust us to help them succeed.'

EuroFinance runs more than 50 events worldwide, enabling treasurers and CFOs to exchange innovative strategies, best practice and expert opinions. It provides unique insight into the trends and developments in cash management and treasury.

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Reporters May Contact:
Bellerina Yeo, Bank of America Merrill Lynch, 65.6678.3706
bellerina.yeo@baml.com