Bank of America Merrill Lynch has named Jeff McLane president of Bank of America Business Capital, the asset-based lending arm Bank of America.
McLane will be based in New York and report to Laura Whitley, middle market banking executive in global commercial banking at Bank of America Merrill Lynch.
McLane was most recently the head of asset-based capital markets at Bank of America Merrill Lynch, where he has worked for 16 years. He has experience leading transactions that include Sears, Neiman Marcus and Foot Locker, companies that refinanced or completed a new deal over the past two years.
"Jeff brings strong knowledge and deep passion for the asset-based lending business to this role," Whitley said in a statement. "Asset-based lending remains a powerful tool for businesses, offering a unique flexibility in structure that is valuable in any economic cycle."
McLane will oversee nearly 400 people spread across the U.S., Canada, Asia and Europe who originate asset-based loans, underwrite them and manage clients' portfolios.
He holds his Series 7, 24, and 63 and received his bachelor's degree from Babson College in Massachusetts.
Write to Julie Steinberg