Member Article

Bank of America Merrill Lynch announces Chester growth

Bank of America Merrill Lynch is marking its fifth anniversary in Chester with the appointment of Stephen Miller to lead a new phase of growth for the bank in the city. This senior appointment will oversee all technology and operations activity.

Back in 2010, a number of the bank’s global functions were first established in Chester on the Business Park beside MBNA. Over the past 5 years, the Bank of America Merrill Lynch operation has grown progressively and today stands at 750 roles, serving customers all over the world. Today, Chester is the largest site outside London for the bank across the whole of the Europe, Middle East and Africa region.

Stephen Miller becomes Head of Global FX Operations and Chester Lead for Technology & Operations. He joins from Standard Chartered Bank where he held a number of senior positions across Securities Operations and Middle office both in UK and Singapore. Most recently he held the position of Chief Information Officer UK & Europe, leading Operations and Technology functions across all of Standard Chartered’s European Businesses.

Prior to joining SCB, Stephen spent 13 years in various Middle Office, Operations and Change Management roles at Bear Stearns and JPMorgan.

“The growth of our operation in Chester has exceeded all expectations. The success is down to the contribution of our people and the many local partners in the region. Chester has a great combination of skills, infrastructure, connections and living environment,” said Steve Davies, Head of Technology & Operations.

“Our fifth anniversary in Chester coincides with the appointment of Stephen Miller to head up our flourishing operation in the city. This appointment shows our commitment to Chester. We’ve created over 750 jobs here in the past five years. Stephen will now spearhead our plans to continue that growth in the city.”

Bank of America Merrill Lynch functions based in Chester:

• Technology Infrastructure and Command Centre
• Cards Technology
• Derivatives and FX Operations
• Futures & Options Clearing
• Middle Office
• Global Information Security
• Global Treasury Service & Fulfillment
• Global Business Continuity & Recovery

MBNA

Alongside Bank of America Merrill Lynch, MBNA – the bank’s UK consumer finance business led by CEO, Ian O’Doherty – has been headquartered at Chester Business Park since 1993. Through MBNA, the group has a long and successful association with Chester. MBNA today has 2,500 roles based in the city.

This was posted in Bdaily's Members' News section by Sophie Everett .