The Bank of New York Wins Top ICFA Awards for Irish Fund Administrator and Most Innovative Project of the Year
LONDON, March 1, 2007 -- The Bank of New York, a global leader in securities servicing, won two awards at the prestigious International Custody & Fund Administration (ICFA) Magazine 2007 awards in central London – Ireland Fund Administrator of the Year and Most Innovative Fund Administration/Custody Project of the Year.
ICFA singled out the Bank as the best Irish Fund Administrator of the Year because of its 'strong commitment to both growth and quality in Ireland,' following the Bank's purchase of AIB's shareholding of the former of AIB/BNY operation and its continued commitment to Ireland as a center of excellence for the Bank's global fund administration offering. Employing over 600 people in Dublin with over $268 billion of assets under administration, the Bank has recently opened a second office in Cork.
The accolade for Most Innovative Fund Administration/Custody Project of the Year was awarded to the Bank for its development of the Praeeo data warehouse and trade execution platform. Praeeo, which has been highly successful in New York and Dublin, serves both mutual and hedge funds on a single platform from a single point of access.
Tim Keaney, senior executive vice president at The Bank of New York, said, "These awards underscore the Bank's success in expanding our fund administration business and are a reflection of the quality of service that we provide clients, helping them manage their own businesses more efficiently. Our investment in technology continues to increase year on year, and the buy-out of the AIB/BNY joint venture has been an important highlight as we grow our business in Ireland."
AIB/BNY Securities Services (Ireland) Ltd also won the Ireland Fund Administrator of the Year category in the ICFA 2006 awards.
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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