The Bank of New York Re-Appointed by Davy as Global Custodian and Clearing Agent
LONDON, February 22, 2007 -- The Bank of New York, a global leader in securities servicing, has been re-appointed by Davy, the leading institutional, corporate and private client broker operating in Ireland, as custodian and clearing agent for global and US securities.
Eamonn Doyle, chief operations officer at Davy, commented, "Following a review of the market, The Bank of New York was considered to offer the best solutions to support our growing business, and demonstrated a level of commitment that impressed us."
David Aldrich, managing director at The Bank of New York, said, "This appointment reflects our pre-eminent position in broker dealing outsourcing and clearance solutions. We look forward to continuing to demonstrate our high level of service and support for Davy's diverse businesses."
Established in 1926, Davy is the leading institutional, corporate and private client broker operating in Ireland. Employing 450 people, Davy provides a comprehensive range of stockbroking and related financial services. Clients include Irish investors seeking opportunities in the Irish and global financial securities markets and international investors seeking similar opportunities in Ireland. Davy's head office is located in Dublin and also has offices in Cork serving Munster clients and in Galway serving clients in the West of Ireland. Additional information is available at www.davy.ie.
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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