Bank of America Merrill Lynch has promoted Brian Stearns and Daniel Timmons to co-heads of its Entertainment Industries unit.
In the newly created posts, the pair will be responsible for advising clients on capital structure alternatives, as well as portfolio strategy, client coverage, credit execution and risk management.
The showbiz sector has been a strong area of growth for the company’s banking operations. In recent months B of A Merrill Lynch has led transactions valued at more than $3 billion for clients including CAA, Open Road Films, Dune Entertainment, Legendary Pictures, New Regency and MGM Studios.
Before joining B of A, Stearns worked in the biz as a physical production exec and in marketing and international sales for Morgan Creek Prods. and the Shooting Gallery .
Timmons has worked for B of A’s entertainment arm since 2005.
“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, prexy of greater Los Angeles for B of A Merrill Lynch.