The Bank of New York Ranked Top Overall Global Trustee for 2006
NEW YORK, February 28, 2007 -- The Bank of New York, a global leader in securities servicing, was the number one overall global trustee for 2006, according to year-end data compiled across all debt segments by the industry's leading information providers.
The Bank's top trustee ranking includes lead positions across almost all U.S. and international debt segments, including long-term municipal, high yield, investment grade, convertible debt, asset-backed and collateralized debt in the U.S., and investment grade, high yield and collateralized debt internationally.
In all, the Bank served as trustee for approximately 3,035 issues, a 15.4% market share, valued at more than $1.3 trillion in proceeds. The next closest competitor had approximately 1,889 issues, a 9.6% market share, valued at $471 billion. The year-end results were compiled from data supplied by well-known industry sources, including Thomson Financial, Dealogic and Asset-Backed Alert.
Karen Peetz, senior executive vice president and head of global corporate trust at The Bank of New York, said, "Our consistently strong performance as the top-ranked global corporate trust provider results from providing clients with a single-point-of-contact while delivering our services through an operations and technology infrastructure that sets the standard in the industry. We look forward to building on these results as we expand our growing share of the corporate trust business worldwide."
The Bank of New York recently completed the acquisition of JPMorgan Chase's corporate trust franchise, making the Bank the leading global provider of corporate trust services. The acquisition enhanced the Bank's ability to capitalize on the faster growing international and structured finance debt markets, as well as to strengthen its leadership in the municipal and corporate debt markets. The acquisition also diversified the Bank's growing revenue base by both geography and product and expanded its global footprint with the addition of new offices in Europe, Asia and Latin America.
The Bank of New York services $8 trillion in outstanding debt from offices in 54 cities and 18 countries around the world. The Bank and its subsidiaries and affiliates provide trust services for all major debt categories, including corporate and municipal debt, mortgage-backed and asset-backed securities, collateralized debt obligations, 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, 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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