SG Corporate & Investment Banking (SG CIB) announced that it has completed the acquisition of Bank of America’s Structured Investments business, which provided institutional investors focused on hedge funds with lending and structured product solutions. The deal includes certain proprietary technology related to the business and the transfer of client financing transactions and related assets, including structured products linked to alternative investment funds of funds.

19 sales, marketing and support staff that comprised Bank of America’s Structured Investments business will join SG CIB’s equity derivatives platform in both New York and London. SG CIB’s equity derivatives platform in the Americas, headed by Francois Barthelemy, will comprise over 100 front office staff, complementing SG CIB’s 800 strong global equity derivatives team.

The SG CIB structured products sales team operating out of New York will be led by Jason Griffith, and will cater to fund of funds, high net worth individuals and family offices as well as service the structured product needs of a wide range of institutions. This deal enlarges SG CIB’s U.S. customer base and widens its distribution capability to U.S. institutions.

This acquisition also enhances SG CIB’s leadership position in equity derivatives and reinforces its alternative investment product expertise in areas including leveraged facilities, credit facilities, principal protected notes and leveraged warrants.

Source: http://biz.yahoo.com/prnews/050407/clth040.html?.v=4