Bank of America named Seth Benefield head of Bank of America Business Capital and asset-based financing, succeeding Karen Sessions, who was named head for the Pacific Southwest region of global commercial banking at Bank of America.
Benefield will be responsible for managing an international team of asset-based lenders that deliver secured credit facilities and other complementary banking products and services to mid-size and large corporate companies. With nine primary offices serving the United States, Canada and Europe, Bank of America Business Capital provides corporate borrowers with senior secured loans of $5 million or more, cash management, interest rate and foreign exchange risk management, and capital markets products.
Based in Atlanta, Benefield has been with Bank of America for 20 years, most recently serving as national marketing manager. In this role, he managed a team of business development officers who provide asset-based solutions and banking products to large and middle market companies, intermediates, and financial sponsors across the U.S. and Europe. Prior to joining Bank of America, he served as a special agent in the Federal Bureau of Investigation.
Benefield is a CPA and holds Series 7, 24, 63 and 79 FINRA registrations.