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THE BANK OF NEW YORK WINS MAJOR PIECE OF NEW GLOBAL CUSTODY BUSINESS

 NEW YORK, Jan. 13 /PRNewswire/ -- The Bank of New York (NYSE: BK) announced today that Stewart Ivory, the Edinburgh Investment Management Company with over 900 million pounds sterling under management, have selected the Bank as its Global Custodian for its private client business.
 Alan Finlay, director of Stewart Ivory, commented, "We were impressed by The Bank of New York's substantial presence in London and their commitment to their global product. We felt comfortable with the staff and assured by their willingness to work with us to develop custom solutions to our exacting specifications. Their client technology was especially impressive."
 Richard Crampton, the Bank's managing director for European Securities Processing said, "We are thoroughly committed to expanding our already significant presence in London. We provide the best service to UK clients for their domestic and their global portfolios, and signing up a highly respected fund manager such as Stewart Ivory indicates the market's appreciation of our substantial investment." Since the beginning of 1992, the Bank has been appointed custodian of $37.1 billion in custody assets by 16 clients from around the globe.
 The Bank of New York is the principal subsidiary of The Bank of New York Company, Inc., which is the 15th largest bank holding company in the United States. The company provides a complete range of banking and other financial services to corporations and individuals worldwide through its five basic businesses: Corporate Banking, Retail Banking, Securities Processing, Trust and Investment Management, and Financial Market Services. The company's stock is traded on the New York Stock Exchange under the symbol BK.
 -0- 1/13/93
 /CONTACT: Michael M. Pascale, VP, 212-495-1041, or Michael Borkan (divisional contact), VP, 212-635-1709, both of The Bank of New York/
 (BK)


CO: The Bank of New York Company, Inc.; Stewart Ivory ST: New York IN: FIN SU: CON

SH -- NY025 -- 4446 01/13/93 11:35 EST
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Publication:PR Newswire
Date:Jan 13, 1993
Words:313
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