10/22/03
NEW YORK, N.Y., October 22, 2003 - The Bank of New York announced today that its Stock Transfer Division has been rated as the number one domestic transfer agent service provider in the large agent category in a recent independent survey conducted by Group Five, Inc. for the second consecutive year.
Group Five, a consulting and shareholder research company headquartered in Skillman, New Jersey, conducts the study annually to assess clients’ opinions of services provided to registered shareowners by securities transfer agents. It measures satisfaction in six major services provided by shareholder services firms: account administration, stock transfers, issuer services, dividend disbursements, proxy services, and service to shareowners. The large agent category consists of agents who serve more than 8,000,000 shareholder accounts.
In total, 165 of the Bank’s clients, representing more than 7.7 million shareholders, responded to the survey. The Bank of New York outperformed its competition in five of the six categories, having achieved an overall satisfaction rating of 91. The overall client satisfaction rating represents a six-point improvement from last year’s results.
Gary N. Nazare, managing director and head of The Bank of New York’s Stock Transfer Division, said, "We are very proud to have once again achieved the "Best in Class" designation by Group Five. We are pleased that the Bank’s client-focused philosophy is resonating with our customers, as shown by the fact that the survey measured client satisfaction, and that by offering state-of-the-art technology, a comprehensive product portfolio and a responsive approach we are able to optimize the client experience."
The Bank of New York is among the world’s leading transfer agents, providing shareholder services to more than 1,950 U.S. and non-U.S. corporations worldwide. The Bank provides recordkeeping, dividend paying and reinvestment, proxy tabulation, employee benefit plan, and corporate reorganization services for corporate issuers of equity securities. For more information, visit the Bank’s Stock Transfer website at www.stockbny.com.
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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