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19/08/2009 -
Bank of America Merrill Lynch announced this week that it has increased its Canadian presence by hiring Brad Cameron to head its Canadian mergers and acquisitions team, Reuters reported.Cameron spent 17 years with the Royal Bank of Canada, and has also held positions at BMO Nesbitt Burns and Lehman Brothers, the news agency reported. He will likely assume the Toronto-based position in the fall.
This appointment is the third high-level addition to Bank of America Merrill Lynch's Canadian office since July, said Reuters.
As the credit card lending giant continues to increase its Canadian presence, Bank of America credit cards will likely grow in popularity among Canadian consumers.
This trend makes it particularly important for merchants to accept credit cards, as stores that do not have credit card processing capabilities will not only lose customers to ones that do accept credit cards, but they will also be seen as outdated and behind the times.
Accepting credit cards has also become more important now that Canadian consumers are easing up on spending restrictions - TNS Canada Facts recently reported that the buy index, which measures consumers' comfort with making purchases, increased 5 points to reach 108.3 in August.
