The Bank of New York Receives Top Rankings in Global Custodian Bank Survey.LONDON -- The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , a global leader in securities servicing, has received top ratings in the institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. and securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. categories of this year's Global Custodian magazine Global Custodian Magazine is the trade publication covering the international securities services industry. GlobalCustodian.com refers to website of Global Custodian Magazine, which is updated daily and provides news and events coverage of the custody and securities industry. Global Custodian Bank Custodian bank Applies mainly to international equities. Bank or other financial institution that keeps custody of stock certificates and other assets of a mutual fund, individual, or corporate client. See: Depository Trust Company (DTC) Survey. The Bank was also commended in the fund manager category. The Bank of New York was top rated overall by institutional investors and also received top scores in the following ten categories: reporting, income collection, tax reclaims, cash management, proxy voting, client service, fund manager transition management, performance measurement, compliance and technology. In the securities lending questionnaire of the survey, the Bank received the highest overall score for the second consecutive year, in addition to receiving number one rankings in reporting, risk management and earnings performance. Patrick E. Curtin, executive vice president of Investor Services, said, "The survey, which examines a wide range of service elements, demonstrates the confidence our clients have in the quality of our global custody capabilities. The results help validate the effectiveness of our client servicing model and underscore the importance of providing value-added services such as securities lending, which help our clients generate incremental revenue and realize the full value of their assets." The Global Custodian survey has been published for 15 years. This year's survey ranked providers based on analysis of 700 responses from institutional investor and fund manager clients. The Bank of New York Company, Inc. (NYSE NYSE See: New York Stock Exchange : BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets Financial assets Claims on real assets. in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion