The Bank of New York Elects Vice Chairmen
NEW YORK, November 21, 2005 - The Board of Directors of The Bank of New York Company, Inc. and The Bank of New York elected Bruce W. Van Saun as Vice Chairman of the Company and the Bank; and, Donald R. Monks as Vice Chairman of the Bank. Mr. Van Saun is the Company’s Chief Financial Officer and Mr. Monks heads Global Payments, Broker Dealer Services and the global Operations and Technology organization. Both have been serving most recently as Senior Executive Vice Presidents.
Chairman and Chief Executive Officer Thomas A. Renyi said, "We are pleased to salute Bruce and Don’s outstanding leadership and exceptional contributions to the Company. They are recognized leaders in the financial services industry, and their experience and insight will be indispensable as we continue to create new opportunities for growth and help our clients succeed in a rapidly changing marketplace."
Since joining the Bank in 1997 as Chief Financial Officer, Mr. Van Saun has played an essential role in the Company’s strategic development, strengthening the Company’s financial position and transforming its business mix through more than 75 acquisitions and two major divestitures. He is responsible for the Company’s finance, treasury, tax, corporate development and investor relations functions. He also oversees the Company’s capital markets and leasing businesses. Prior to joining the Bank, Mr. Van Saun held senior leadership positions at Deutsche Bank, Wasserstein Perella, and Kidder Peabody. Mr. Van Saun serves on the Boards of Directors of Bowater Incorporated and The Stride Rite Corp. He is a representative to the Financial Services Roundtable and active in other leading industry associations.
During more than three decades with the Company, Mr. Monks has directed key functions including an operations and technology organization that now spans three continents and includes a staff of nearly 7,000. His responsibilities also include leadership of the Company’s broker dealer and global payment services businesses, as well as securities operations, business continuity planning and corporate services. Mr. Monks has been recognized globally as a leader in shaping the evolution of the payments and securities servicing industries as well as in developing industry protocols for infrastructure resilience and business continuity. He is a representative to the Financial Services Roundtable and serves on the Executive Committee of BITS, its sister organization that focuses on issues related to emerging technology. He is a member of the steering committee of The Clearing House Payments Company. He has also served on the Board of Directors of the Depository Trust Company and the U.S. central securities depository.
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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