The Bank of New York Appointed by Banco de Moçambique for Global Custody and Securities Lending Mandate
LONDON, April 3, 2007 -- The Bank of New York, a global leader in securities servicing, has been appointed by Banco De Moçambique, the central bank of the Republic of Mozambique, to act as global custodian and securities lending agent for its foreign reserves.
Tim Keaney, executive vice president and head of Europe at The Bank of New York, said, "We have made significant investments in value added services such as securities lending, global risk services and transition management, and this appointment reflects the strength and breadth of our capabilities. The Bank of New York has a significant business on the African continent and this prestigious central bank win demonstrates our commitment to the region. We look forward to expanding our relationship with Banco De Moçambique and providing high quality services to meet the requirements of its investment policy."
The Bank of New York is one of the world's leading custodians with more than $13 trillion in assets under custody and administration and a leading lender of U.S. Treasury securities and depositary receipts with over $375 billion average daily loans outstanding.
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.
| « Back to Press Releases | Next » |
