Bank of America announced that Seth Benefield has been named head of Bank of America Business Capital (BABC) and Asset-Based Financing, succeeding Karen Sessions, who was named Head for the Pacific Southwest Region of Global Commercial Banking at Bank of America.

Benefield will be responsible for managing an international team of asset-based lenders that deliver secured credit facilities and other complementary banking products and services to mid-size and large corporate companies. With nine primary offices serving the United States, Canada and Europe, BABC provides corporate borrowers with senior secured loans of $5 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.

Based in Atlanta, Benefield has been with the bank for 20 years, most recently serving as National Marketing Manager, where he managed a team of business development officers who provide asset-based solutions and banking products to large and middle market companies, intermediates and financial sponsors across the U.S. and Europe. Prior to joining the bank, he served as a special agent in the Federal Bureau of Investigation.

Benefield earned a Bachelor of Arts degree in Accounting from University of Georgia.  He is a Certified Public Accountant and holds Series 7, 24, 63 and 79 FINRA registrations.