07/15/03
NEW YORK, N.Y., July 15, 2003 - The Bank of New York, a premier global solutions provider to the securities industry, announced today that it has been appointed custodian and clearing agent by SunTrust Robinson Humphrey Debt Capital Markets, a division of SunTrust Capital Markets, Inc., the investment banking subsidiary of SunTrust Banks, Inc.
Laura Deasy, chief financial officer at SunTrust Robinson Humphrey, commented, "After a thorough evaluation process, we selected The Bank of New York because of its dedicated team of securities industry experts who will help us increase our efficiencies by leveraging their straight through processes. We look forward to working together and benefiting from a close partnership."
"We are pleased to provide SunTrust Robinson Humphrey Debt Capital Markets with integrated custody and clearing services," said Art Certosimo, senior vice president and head of broker-dealer services at The Bank of New York. "Our broker-dealer services team leverages its industry expertise to engineer the products and services our clients need to gain a competitive advantage in the marketplace."
The Bank of New York is a leader in domestic securities clearance services and also provides transaction servicing and financing to international banks and brokers through its Global Securities Clearance Division. The Bank of New York offers the most sophisticated clearance technology, helping its clients to reduce failed trades and improve transaction turnaround and operating efficiencies.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.
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