Bank of America Merrill Lynch has promoted Brian Stearns and Daniel Timmons to the newly created roles as co-heads of the Entertainment Industries coverage unit, it was announced on Tuesday.
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 as the entertainment sector for Bank of America Merrill Lynch is experiencing strong growth. 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 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 area 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.
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 America’s New York-based Global Corporate and Investment Bank in 2002, transitioning to the Los Angeles-based Entertainment Industries coverage unit in 2005.