The Bank of New York Named Top Trustee
NEW YORK, August 30, 2005 - The Bank of New York, a global leader in securities servicing, retained its number one overall U.S. trustee position for the first half of 2005, according to data provided by Thomson Financial, a leading provider of financial information and technology. The ranking is based on the number of debt issuances across the U.S. municipal and U.S. taxable debt markets.
The Bank of New York took the top overall position with 694 issuances, valued at $194.8 billion in proceeds. In addition, the Bank maintained its number one high yield debt position, with 49 issuances, and improved its mortgage-backed trustee ranking to take the number one position with 64 issuances. The Bank also served as trustee on 381 municipal debt issues, up 30% from first quarter 2005.
Karen Peetz, executive vice president and head of The Bank of New York’s Corporate Trust Services Division, said, "This number one ranking reinforces our leadership across all corporate trust products and services. We are particularly pleased to see our individual category ranking for mortgage-backed securities climb to the top position. Through our relationship management team, we will continue to work closely with our municipal, corporate, and structured finance clients to create customized solutions that meet their unique business needs."
The Bank of New York is a leading provider of corporate trust and agency services. The Bank and its subsidiaries and affiliates administer a portfolio of more than 90,000 trustee and agency appointments, representing $3 trillion in outstanding securities for more than 30,000 clients around the world. The Bank is a recognized leader for trust services in several debt products, including corporate and municipal debt, mortgage-backed and asset-backed securities, derivative securities services and international debt offerings.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
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