Bank of America Merrill Lynch Provides Comprehensive Transaction Services Solution to Unitas Capital

Published 

HONG KONG – Bank of America Merrill Lynch Global Transaction Services (GTS) today announced that it has completed the implementation of a customized, end-to-end transaction services solution for Unitas Capital, a Hong Kong-based private equity firm. The integrated solution was tailored for Unitas Capital to support its recently announced sale of an equity investment.

Working within a two-week timeframe, Bank of America Merrill Lynch leveraged the capabilities of its universal banking model to develop a comprehensive transaction services solution to meet Unitas Capital’s complex requirements. In addition to opening and maintaining escrow accounts, Bank of America Merrill Lynch provided United Capital an array of services including foreign exchange and fund settlement that utilize the strengths of the GTS, Global Corporate and Investment Banking, Global Markets, and Operations business lines.

Upon implementation of the escrow and settlement solution, Unitas Capital received numerous benefits to support the transaction. Specifically, by partnering with Bank of America Merrill Lynch teams in several geographies, the comprehensive transaction services solution was implemented for Unitas Capital simultaneously and seamlessly across multiple time zones. Furthermore, serving as escrow agent, Bank of America Merrill Lynch ensured counterparty risk was mitigated when settling obligations and that provisions were executed as pre-agreed for all transacting parties.  

“We continue to aggressively expand our escrow and settlement platform in this region and invest in the most relevant and effective solutions for our clients,” said Ivo Distelbrink, head of GTS, Asia Pacific. “The success of the deal further underscores the strength of the Bank of America Merrill Lynch franchise, showcasing our capabilities across different banking teams and products globally to directly benefit to Unitas Capital.”

“Given our specific needs and time-sensitive requirements, Unitas Capital was looking to partner with a provider to implement an end-to-end escrow solution built on broad market experience and global connectivity,” said Sharon Lim, CFO of Unitas Capital. “To support our landmark transaction, Bank of America Merrill Lynch crafted a comprehensive solution that delivered above and beyond all of our requirements.”

Throughout 2013, Bank of America Merrill Lynch has invested in its Asia Pacific GTS platform to complement its robust capabilities in treasury management and trade finance. Building out escrow agent services is a significant enhancement, as the solutions support a wide range of transactions including mergers and acquisitions, receivables collection/purchase of goods or services, and cross-border trade.   

Bank of America

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,200 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users and more than 14 million mobile users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. 

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and member of FINRA and SIPC, and, in other jurisdictions, a locally registered entity. Investment products offered by Investment Banking Affiliates:  Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

Copyright 2013 Bank of America Corporation. All rights reserved. Bank of America, Merrill Lynch, Broadcort and their logos are trademarks of Bank of America Corporation and/or its affiliates.

About Unitas Capital

Unitas Capital is one of the most experienced dedicated regional private equity firms in Asia, with US$4 billion in capital commitments under management. Since 1999, Unitas has advised on investments exceeding US$2.8 billion into 32 companies. Unitas targets investments in market-leading industrial, branded consumer and retail companies with strong cash-generative business models, barriers to entry and differentiated product capabilities. Unitas uses its strong group of in-house operators to improve and grow businesses in its portfolio.

Visit the Bank of America newsroom for more Bank of America news.

Most recent episodes

What to Do with Corporate Cash in Challenging Times

Corporate treasurers have myriad challenges to contend with in the short-term investment space. Here, Richard Hallett (Aviva Investors), Ed Lopez (Calastone) and Patrick Kunz (Pecunia Treasury & Finance) outline how to successfully navigate these roadblocks, debunk incoming regulations, and assess...

39:42

Trading Up: Supply Chain Trends Impacting Treasury

If you need a clear, concise and definitive guide to SCF in 2022 and 2023 then look no further! Due to their remit as financial risk assessors, treasurers need to understand the pitfalls associated with supply chain disruption. In this podcast, hosted by TMI’s Eleanor Hill, our expert guests Rowan...

34:28

£15 Billion Stimulus Pumped into UK Economy to Ward Off Recession Fears

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th June...

04:44

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY's distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event, explain...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI's Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI's Editor, Eleanor Hill, to explore the very latest treasury trends - and to discuss how smart treasurers can get ahead of th...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI's Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14