The Bank of New York to Provide Transfer Agent Support to Wells Real Estate Funds
NEW YORK, November 6, 2006 -- The Bank of New York, a global leader in securities servicing, has been appointed by Wells Real Estate Funds to provide customized client accounting and back-office transfer agency services. Investors and their financial representatives will continue to communicate directly through Wells.
Gary Nazare, managing director and head of The Bank of New York's Stock Transfer and Investment Plan Division, said, "The Bank of New York delivers best-in-class agency services for leading direct investment sponsors. This appointment allows us to leverage state-of-the-art technology with processing expertise to provide Wells Real Estate Funds with a premier agency solution."
Wells Real Estate Funds (www.wellsref.com) is a national real estate investment company, based in suburban Atlanta, which purchases and manages real estate on behalf of Wells-sponsored investment programs. Since 1984, more than 200,000 individuals across the country have, through their financial representatives, invested in Wells-sponsored programs to help diversify their portfolios. Collectively, Wells-sponsored programs own approximately $8 billion in assets, based on purchase price.
The Bank of New York is among the world's leading transfer agents, providing shareholder services to more 17 million shareholder accounts representing 1,950 equity issuers globally, and 35 sponsors of direct investment vehicles representing 800,000 direct investment share and unit holders. The Bank provides recordkeeping, dividend paying and reinvestment, proxy tabulation, equity compensation administration, and corporate reorganization services for corporate issuers of equity securities.
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, asset management, and private banking. 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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