(Source: PRNewswire)NEW YORK, Aug. 20 /PRNewswire/ -- Bank of America today announced that David Flannery will be joining the company as global head of Leveraged Finance. Flannery, who is currently at Deutsche Bank, will be based in New York and report to Bruce Thompson, head of Global Capital Markets. Flannery is expected to commence working at Bank of America in November.

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The Leveraged Finance business at Bank of America includes syndicated loan capital markets and loan distribution, high yield capital markets and syndicate, and leveraged acquisition finance.

"Leveraged Finance is a core competency of Bank of America," explained Bruce Thompson, noting that the company ranked first in terms of U.S. issuance for the first half of 2008(1). "Our leadership in this space is a result of a long-term strategy to develop expertise around financing for non-investment grade companies."

Thompson added that Flannery's appointment will help Bank of America continue to reinforce its reputation as a leader in the field. "David has more than 15 years of experience in capital raising and possesses a deep understanding of the capital markets. His leadership and technical capabilities will add depth and breadth to our already strong platform and continue to help us globalize our business. We are very excited he'll be joining our team."

Flannery has spent the bulk of his career at Deutsche Bank having joined the firm in 1992. He was appointed head of High Yield Capital Markets in 2002 and four years later was named head of Leveraged Capital Markets. In 2007 he was named U.S. head of Leveraged Finance and at the beginning of this year, global head of Leveraged Finance. Flannery received a Bachelor of Science degree from Villanova University.

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 products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit http://www.bankofamerica.com/

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Bank of America

CONTACT: Louise Hennessy, +1-646-855-1403,louise.hennessy@bankofamerica.com, or Anuj Baveja, +1-646-855-3365,anuj.baveja@bofasecurities.com, both of Bank of America

Web site: http://www.bankofamerica.com/