07/31/03
NEW YORK, N.Y., July 31, 2003 - BNY Asset Solutions LLC, a subsidiary of The Bank of New York, announced today that Ross Thiedeman has joined its management team as the director of asset-backed securities (ABS) servicing. Mr. Thiedeman will manage the company's ABS servicing portfolio valued at more than $3 billion.
Mr. Thiedeman has more than 22 years of experience in the financial services industry, with an emphasis on structured finance and securitization. Before joining BNY Asset Solutions LLC, Mr. Thiedeman was vice president of securitization for CitiFinancial, where he was responsible for funding a variety of asset classes, including a $6 billion sub-prime automobile loan portfolio. As director of structured finance for Amresco, Inc., Mr. Thiedeman managed structured finance activities within the corporate capital markets group and established funding for various business units.
"Ross brings dynamic leadership and significant industry expertise in asset-backed securities, a key growth area, to our company," said Jim Vincent, president of BNY Asset Solutions. "As the director for this important asset class, Ross will be focused on increasing market share through back-up servicing opportunities, growing our emerging commercial asset classes and leveraging our full-service capabilities provided through The Bank of New York, one of the world's leading ABS trustees."
BNY Asset Solutions provides administrative and operational support to the commercial mortgage and asset-backed lending markets from origination through securitization, as well as administrative agent services to the syndicated loan market. BNY Asset Solutions provides master, primary, special and back-up servicing on more than $15 billion in assets.
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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