Bank of America Merrill Lynch Consolidates Latin America SSC
Bank of America Merrill Lynch (BAML) has consolidated its Latin America shared service centre (SSC), which serves the cash management needs of more than 1,000 clients operating in over 43 countries.
The expanded SSC in downtown Miami provides clients with one point of contact for all BAML payments and liquidity capabilities in Latin America and the Caribbean, along with sales and product advice, fulfilment, client servicing and investments.
“The continued development of this one-stop working capital management platform for Latin America demonstrates our commitment to giving multinational clients world-class banking capabilities,” said Tom Avazian, regional executive for treasury and trade services in Latin America and Canada. “Since opening in April 2008, the shared services centre has improved efficiencies, streamlined problem-solving and provided a consistent client experience for companies that want to consolidate banking relationships and improve liquidity.”
The relocation enabled the bank to combine sales, risk, fulfilment, client service and technical support in a single location. The SSC has 59 associates, with the potential to grow in the new location to support ongoing plans.