The italicized word is a Predicate Nominative. See the definition of same below.
What is predicate Nominative?
A predicate nominative (or predicate noun) is a word or group of words that completes and renames a linking verb.
Another way to put it is:
A predicate nominative is (also known as a predicate noun) is a term or collection of words that renames the subject and completes a connecting verb.
See a parallel example:
"It was a monster."
- "It" renames "A monster"
- It = Subject
- Was = Linking verb
- a monster = predicate nominative..
Hence,
- John Clement = Subject
- has been = linking verb
- my friend = predicate nominative
- for three years.= Adverbial phrase of time
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