11/18/03
LONDON and New York, November 18, 2003 – The Bank of New York, a global leader in securities servicing, has announced four executive appointments:
- Jeffrey Tessler has been appointed executive vice president for BNY Securities Group, the Bank’s global agency brokerage, clearing and financial services outsourcing sector, where he will coordinate strategic business development opportunities with the firm’s largest institutional clients.
- Timothy F. Keaney has been appointed executive vice president and Head of Europe, succeeding Mr. Tessler.
- Christopher R. Sturdy, managing director, has been appointed Head of Depositary Receipts, succeeding Mr. Keaney.
- Michael Cole-Fontayn, managing director, has been appointed Head of International Marketing for Global Issuer Services, succeeding Mr. Sturdy.
Mr. Tessler, who has been Head of Europe for six years, will relocate to New York and report to Joseph M. Velli, senior executive vice president of the Bank and chief executive officer of BNY Securities Group. Mr. Tessler has been with The Bank of New York for 24 years, beginning with The Irving Trust Company, which merged with the Bank in 1988.
Mr. Keaney, who has headed the Bank’s Depositary Receipts business for three years, will be based in London and will report to Vice Chairman Alan R. Griffith. Prior to joining the Bank in 2000, Mr. Keaney was a London-based senior vice president of Deutsche Bank, where he had management responsibilities within the custody, asset management, cash management and trade finance businesses.
Mr. Sturdy, who joined the Bank in 1982, will report to Brian G. Rogan, senior executive vice president and Head of Global Issuer Services. Mr. Sturdy has most recently served as managing director and Head of International Marketing for Global Issuer Services.
Mr. Cole-Fontayn has been with the Bank since 1984 and has served in key management roles in the Asian and European Issuer Services businesses for The Bank of New York.
In announcing these executive appointments, Thomas A. Renyi, chairman and chief executive officer of The Bank of New York, said, “We are fortunate to have these executives moving to new leadership roles in key growth areas of our company. In recent years, our organization has significantly expanded its geographic reach and product capabilities, particularly the breadth of services delivered to our clients in Europe and to the BNY Securities Group and Depositary Receipt customers we serve around the world. These executives have the experience and commitment needed to ensure we fully capitalize on future opportunities.”
BNY Securities Group
BNY Securities Group is the global agency brokerage, clearing and financial services outsourcing sector of The Bank of New York Company, Inc. It provides “The Power of Choice” through a broadly diversified suite of services to institutions, broker-dealers and corporations. BNY Securities Group offers innovative solutions in trade execution, commission management, independent research, securities clearing and financial services outsourcing. With offices in the U.S, Europe, Asia, and Australia, BNY Securities Group is the largest provider of commission management services, has 26 New York Stock Exchange seats, and offers global execution and clearing services in over 80 markets. BNY Securities Group is an organization consisting of several broker-dealers and other companies.
The Bank of New York in Europe
The Bank of New York employs approximately 4,000 staff in its European headquarters in London, its European processing centre in Brussels, its offshore administration subsidiary in Luxembourg, its affiliates in Dublin, and its eight other European offices. The Bank provides custody services to nearly 1,500 pension fund clients, which account for a quarter of U.K. pension assets. The Bank of New York is one of the world’s largest custodian banks with $7.9 trillion in global assets under custody.
Depositary Receipts
The Bank of New York is the world's largest depositary for American and global depositary receipts, allowing non-U.S. companies to offer dollar-denominated securities to investors worldwide. The Bank currently issues depositary receipts for more than 1,400 programs representing 70 countries and accounts for 67% of all public sponsored depositary receipt programs.
The Bank of New York Company, Inc.
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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