Bank of America Global Treasury Services -GTS- Launches Aerarium - The Global Forum on Working Capital.Business Editors The Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. (NYSE NYSE See: New York Stock Exchange : BAC BAC abbr. blood alcohol concentration ): "First of Its Kind" Organization in Working Capital Issues Concludes Inaugural Session in Malaysia The Bank of America (NYSE: BAC) Global Treasury Services Treasury services is a function of an investment bank which provides transaction, investment and information services for chief financial officers, treasurers. Treasury services concentrates and invests client money, and provides trade finance and logistics solutions as well as (GTS GTS abbr. gas turbine ship ) division today announced the formation of Aerarium, the Global Forum on Working Capital. Bank of America GTS created Aerarium so that working capital management leaders would have a unique opportunity to identify, analyze and offer new solutions to the critical issues facing the industry. Aerarium's mission is to engage leaders in government and industry and help improve working capital management around the globe. Membership currently includes senior executives from some of the world's largest multinational corporations
"Aerarium will not only spearhead leading edge thinking on working capital issues, but it will facilitate idea sharing, debate and innovation. Ultimately, the goal for Aerarium is for it to become a catalyst to develop solutions for the future needs of our clients, to influence business changes, and to be a forum for discussion and public policy recommendations," said Dan Riley, president of Global Treasury Services, Bank of America. The inaugural Aerarium summit took place June 19-21 in Malaysia. Designed as an ongoing series of summits, the next Aerarium session is scheduled to take place in Europe this September. At the Malaysia summit last week, Aerarium members discussed topics such as centralization of data and function, the availability of credit, the impact of innovation, common standards in technology, the value of information, the future relationship between a corporation and its bank, and some of the best practices in working capital management. Following Aerarium sessions, select content discussed and initiatives identified will be documented and shared with key stakeholders, decision-makers and other audiences. "Working hand-in-hand with our clients, we clearly see how the role of treasury is evolving. Historical job descriptions will no longer apply in the future. We too believe tomorrow's leading global treasurer and cash manager will have to think much more strategically. Our hope is that the content developed and insight gained by Aerarium will prove beneficial for those in the profession," said Ian Duncan, director of marketing, Bank of America GTS. Aerarium is a Latin term originating from the Roman Empire. It was used to describe the chamber beneath the high podium in Rome's temple of Saturn The Temple of Saturn (Latin: Templum Saturni or Aedes Saturnus . That `aerarium' chamber was where the public treasury was kept. About Bank of America GTS The Global Treasury Services (GTS) division of Bank of America provides integrated working capital management and treasury solutions to clients that include multi-nationals, correspondent banks, governments and global 1000 businesses. GTS services include treasury management, trade finance, foreign exchange, short-term credit facilities and short-term investing. Bank of America GTS is the number one treasury and trade services provider in the United States. Unique to Bank of America, the GTS Global Banking System (GBS See GB/sec. ) is the only common technology platform for offshore banking functions, providing global support to over 500 units in 40 locations with over 2,500 users. Bank of America stock (ticker: BAC) is listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Pacific and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . The company's Web site is www.bankofamerica.com. News, speeches and other corporate information may be found at www.bankofamerica.com/newsroom. |
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