Bank of America Merrill Lynch Appoints Brian Stearns and Daniel Timmons as Co-Heads of Entertainment Industries Coverage
Responsibilities Include Portfolio Strategy, Client Coverage, Credit Execution, Risk Management and Advice on Capital Structure Alternatives
LOS ANGELES--(BUSINESS WIRE)-- Bank of America Merrill Lynch today 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 Disneys 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.
Stearns began his career on the content side of the entertainment Industry, holding various positions in physical production for motion picture and television companies. Prior to banking, he also held marketing and international sales roles with independent film producers such as Morgan Creek Productions and The Shooting Gallery. Stearns transitioned into motion picture and television finance with the French bank Natixis. With an initial focus on project lending, his industry coverage expanded to include corporate credit and structured finance. He later joined Union Banks entertainment lending practice, where his efforts centered on client acquisition and deal structure. Stearns is a board member of Education Through Music Los Angeles, a nonprofit organization dedicated to the preservation and enhancement of musical curriculum in Los Angeles public schools.
Timmons began his career in consulting with Accenture in San Francisco, where he spent five years advising a wide range of clients within the financial services and technology sectors. Timmons joined the Media and Entertainment group of Bank of Americas New York-based Global Corporate and Investment Bank in 2002, transitioning to the Los Angeles-based Entertainment Industries coverage unit in 2005. Timmons is actively involved in the Pasadena-based Tournament of Roses and Five Acres, a nonprofit organization dedicated to strengthening families and prevention of child abuse through treatment and education in community-based and residential programs.
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Source: Bank of AmericaCopyright Business Wire 2012