Steve Szymanski

Director, Asset-Based Capital Markets Group, Bank of America Merrill Lynch

40 under 40 Category: Loan Syndications

Biography:

Steve Szymanski is a director in the asset-based capital markets group at Bank of America Merrill Lynch (BofAML) with more than 10 years of leveraged lending experience.  Based in Charlotte, NC, he is responsible for sourcing, structuring and syndicating asset-based loan transactions for large and mid-sized corporate clients and financial sponsors across a variety of industries. Prior to his current role, Steve spent more than six years in the broader leveraged finance group at BofAML, executing on multiple products including institutional leveraged loans, high yield corporate bonds, investment-grade loans and both cash flow and asset-based commercial bank loans.  His background working across a range of credit products has provided him invaluable experience involving complex financing transactions, such as leveraged buyouts, corporate acquisitions, turnarounds and refinancings.  Steve holds a Bachelor of Science in finance (2006) and a Master of Science in accountancy (2007) from Wake Forest University.

Is there a piece of professional advice that you would give yourself if you could go back in time?

If I could go back in time to give myself a piece of professional advice, I would say to take more chances and worry less about failing.  Looking back at the last 10 years, the periods where I experienced the most professional growth occurred when I found myself in situations for which I didn’t think I was ready.  These situations are often stressful, but I think the best approach is to embrace them as opportunities and accept that I’ll make some mistakes.  When I had the opportunity to step into a more senior role with a meaningfully increased level of responsibility, it came far sooner than I expected.  Leaning on the deeply experienced and talented team at BofAML, I was able to seamlessly transition into my new role and gain invaluable experience along the way.  

How did you wind up in the industry?  We know that most kids don’t say, “I want to be in commercial finance when I grow up”.

In college I struggled to decide where I wanted to start my career and wound up pursuing degrees in both finance and accounting.  What really made the difference for me was the ability to complete several internships in different fields, including corporate finance, public accounting and leveraged finance.  What was a difficult decision initially became a very easy one after I spent a summer in BofAML’s leveraged finance group.  The program provided me real experience and proved that the job would be challenging, engaging and rewarding, all of which convinced me that it was the right position for me.  I think internship programs are a fantastic way for the commercial finance industry to recruit young talent, with clear benefits for both young professionals and employers.  Further, as a young professional, I was attracted to the broad range of opportunities available within the industry.  Entry-level roles in this field provide a great foundation for those starting their careers – most of the colleagues with whom I started in 2007 have moved to all corners of the financial world, including private equity, specialty finance, buy-side loan and bond funds, corporate finance, etc. 

What is the best professional advice you have been given and how have you implemented it?

The best professional advice I’ve been given came from my middle-school soccer coach, who told our team, sometimes in frustration, to “take pride in what we’re doing”.  He may have been looking for a better effort on some of the mundane parts of training, but his message stuck with me and I think is broadly applicable.  In my view, feeling a sense of pride and accountability for your work is foundational for a prosperous career.  The most successful people I have encountered care deeply about their work and the results they achieve for their clients and the firm.  At BofAML, I have found this mindset to permeate the culture and I think it’s one of the key drivers of the bank’s continued success.