Bank of America Merrill Lynch Hires Steven Niemczyk as Global Head of Asset Management Investment Banking

NEW YORK - Bank of America Merrill Lynch today announced that Steven J. Niemczyk will join the company’s Global Corporate & Investment Banking business as global head of Asset Management Investment Banking in June 2009. Niemczyk has been global head of Asset Management Investment Banking at UBS Limited in London. He will relocate to New York and report to Michael Rubinoff, head of Global Financial Institutions Corporate & Investment Banking.

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“Bank of America and Merrill Lynch have long been leaders in advising and raising capital for financial institutions,” said Brian T. Moynihan, president of Global Banking and Wealth Management. “Steve has over 20 years of experience in financial services investment banking. His hire underscores the combined firm’s continued commitment to this important client sector.”

“We expect to see more consolidation and increased capital needs among financial institutions, including asset managers,” said Rubinoff. “Steve’s expertise in advising asset management companies is a vital addition to our team.”

From 2001 to 2006, Niemczyk was a managing director in Morgan Stanley’s Financial Institutions group in New York and London. Niemczyk was a general partner at Lazard Freres & Co. from 1990 to 2001 where he was a member of the Supervisory Board, the Opinion Committee and the Lazard/Daiwa SBCM Steering Committee. He held previous positions with The Blackstone Group and Salomon Brothers from 1983 to 1990.

Niemczyk holds an M.B.A. degree from Harvard Business School from which he graduated with distinction in 1983. He received an MSc degree from The London School of Economics in 1979 and a B.A. in economics from Yale University, from which he graduated cum laude in 1976.

Bank of America (NYSE: BAC) 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 products and services. The company’s corporate, commercial, investment banking, and sales and trading businesses operate under the Bank of America Merrill Lynch brand. Bank of America Merrill Lynch focuses on companies with annual revenues of more than US$2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. It provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, research, and liquidity and payments management. Bank of America Merrill Lynch serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 88 percent of the Fortune Global 500. Many of the services for corporate and institutional clients are provided by Banc of America Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and/or other affiliates of Bank of America Corporation. For additional information, visit www.bankofamerica.com.

Source: Bank of America

Alison MacDonald, Bank of America, +1-646-855-5529, alison.macdonald at bankofamerica.com