Bank Of America Merrill Lynch, AvantGard Launch Treasury Knowledge Alliance
Both parties will jointly develop and implement the comprehensive and interactive program to support corporations in Asia as they adapt to increased business demands.
Bank of America Merrill Lynch’s Global Transaction Services (GTS) and SunGard’s AvantGard have announced the launch of their Asia Pacific treasury knowledge alliance. The dedicated Asia Pacific program will leverage the respective business strengths and networks between Bank of America Merrill Lynch GTS and SunGard’s AvantGard, providing a client-focused platform to connect the market’s experiences and opinions, promote best-in-class practices and help drive enhanced technological innovation within the regional treasury industry.
Bank of America Merrill Lynch GTS and SunGard’s AvantGard will jointly develop and implement the comprehensive and interactive program to support corporations in Asia as they adapt to increased business demands. This collaboration is unique as it brings together the complementary expertise and practical experience from multiple views to provide an Asia Pacific treasury knowledge platform. The knowledge platform will rely on the collective domain knowledge gained from working with a diverse range of companies throughout the region.
The program will offer corporate treasurers a knowledge platform that is comprised of Asia Pacific-focused industry studies, market-inspired thought leadership and editorial content, combined with a series of in-country knowledge-based events.
To help ensure continual relevance to Asia Pacific treasuries and treasury specialists, the alliance will leverage the business strengths of both providers’ global and regional platforms. Bank of America Merrill Lynch will draw on its client-centric service model and internationally-recognised development of integrated treasury products and solutions within the collaboration. SunGard AvantGard’s global automation and centralisation expertise in cash, compliance and risk will provide the alliance with the technological knowledge needed by Asia Pacific’s evolving treasury industry.
“Everyday we support our Asia Pacific treasury clients through knowledge – the more we know, the more we can help them to achieve their business ambitions and balance their risk,” said Ivo Distelbrink, BofA Merrill Lynch’s Head of Global Transaction Services for Asia Pacific. “As market sophistication continues to evolve and competition intensifies across the region, treasury knowledge is more reliant on technological innovation than ever before. Given this fact, we are proud to collaborate with SunGard, a cutting-edge technology services provider, on this innovative alliance.”
“We are looking forward to working with BofA Merrill Lynch on this alliance,” said Michael Fullmer, Senior Vice President, SunGard’s AvantGard. “Our aim is to offer our customers a holistic approach to treasury management. This means that, in addition to providing award-winning solutions, we provide best practices and networking opportunities and we conduct market research and focus groups. This cooperative program enables us take to take these initiatives to an entirely new level.”
After the rupee hit 68.85 in summer of 2013 following the taper tantrum talks by the US Fed, the RBI was forced to launch the maiden NRI bonds and mopped up $30 billion with a three-year maturity
Retail inflation fell to 9-month low of 4.17 percent in July on declining vegetable prices.
Infosys, ICICI, HDFC Bank, State Bank of India and ITC are expected to be the key contributors to growth of profit by 9.2 percent predicted for Sensex companies.