Bank of America said Formica had previously used another bank and had won the mandate following a competitive exercise.
Bank of America initiated the implementation in Taiwan and is now rolling it out to FormicaÆs five other markets in the region - Korea, Hong Kong, China, Singapore and Malaysia. The scope will extend as the company expands in the region and Bank of America will continue to provide cash management solutions.
Richard Brown, head of global treasury services for Asia, says ôOne...
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