The Bank of New York Appointed by Societe Europeenne de Banque Luxembourg as Global Custodian
LONDON, March 29, 2007 -- The Bank of New York, a global leader in securities servicing, has been appointed by Société Européenne de Banque Luxembourg as global custodian for its UK and Irish assets.
Clemente Benelli, chief executive officer of Société Européenne de Banque Luxembourg, said, "We appointed The Bank of New York because they have demonstrated a clear understanding of the sectors we operate in and have the experience to meet the complex needs of our business."
Robert Darmanin, executive vice president at The Bank of New York, said, "Winning this significant piece of business highlights our capabilities and proven track record and exemplifies the momentum we continue to experience in our custody business. We look forward to helping Société Européenne de Banque Luxembourg team grow its business."
The Bank of New York is one of the world's leading custodians with more than $13 trillion in assets under custody and administration.
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.
Société Européenne de Banque was established in Luxembourg in 1976 and is a member of Gruppo Intesa Sanpaolo.
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