10/22/03
Bank to Service $9 Billion in Assets
NEW YORK, N.Y., October 22, 2003 - The Bank of New York, a premier provider of securities services, announced today that it has been selected by the State of New Jersey Department of the Treasury to provide global custody, securities lending, foreign exchange, and compliance monitoring for approximately $9 billion in assets.
New Jersey State Treasurer John McCormac said, "We are pleased to award this important contract to The Bank of New York and look forward to developing a strong working relationship with the Bank in the years ahead."
Patrick Curtin, executive vice president at The Bank of New York, said, "We are delighted to offer the State of New Jersey our complete suite of integrated services. The Bank has a dedicated team that provides responsive client service and flexible reporting options to our public fund clients, and we have leveraged this expertise to meet the complex plan requirements of this mandate."
The Bank of New York’s dedicated Plan Sponsor Services division provides plan sponsors and not-for-profit institutions with integrated solutions that add value to their investment process. Services include currency overlay, investment and cash management, investment risk management, master trust, custody, retirement plan services, securities lending, and trade execution services.
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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