Bank of America Merrill Lynch has announced the expansion of its Global Transaction Services (GTS) business in Canada.

The GTS team will be led by Hany Naguib, who brings over 30 years of experience in the Canadian market. Naguib will be responsible for driving overall GTS growth, leadership across the GTS team and acting as senior GTS representative to the market, in addition to directly overseeing the bank's large corporate clients. BofA Merrill's Canadian-based team will also include a dedicated team of treasury officers focused on serving small to middle market companies, led by Katie Simpson in Toronto.

BofA Merrill is the largest global financial institution in Canada and has been active in Canada for more than 50 years.