Daily News: September 5, 2012

BofA Names Co-Heads of Entertainment Industries Unit

Bank of America Merrill Lynch announced the promotion of Brian Stearns and Daniel Timmons to the newly formed roles of co-heads of the entertainment industries coverage unit.

The duo is responsible for portfolio strategy, client coverage, credit execution and risk management in addition to advising clients on capital structure alternatives.

The announcement comes during a period of strong growth in the entertainment sector for Bank of America Merrill Lynch. The company recently led transactions totaling more than $3 billion for such clients as CAA, Open Road Films, Dune Entertainment, Legendary Pictures, New Regency and MGM Studios.

“The commitment by Bank of America Merrill Lynch to the entertainment sector dates back to 1923 and includes providing financing for Walt Disney’s ‘Snow White.’ It is exciting to see the extension of this commitment at work today,” said Raul Anaya, president of Greater Los Angeles for Bank of America Merrill Lynch. “Under Stearns’ and Timmons’ leadership, the group has emerged as a leader in this space, increasing the level of capital delivered to the industry and earning the trust and respect of our growing list of entertainment clients. We look forward to continued success.”