The Bank of New York Named Top Global Custodian by The Asset Magazine
NEW YORK, April 12, 2007 -- The Bank of New York, a global leader in securities servicing, has been named Best Global Custodian in The Asset Magazine's 2007 Triple A Transaction Banking Awards.
In selecting the Bank, The Asset cited the significant global gains the Bank made in 2006, including the pending merger of its parent company, The Bank of New York Company, Inc., with Mellon Financial Corporation, which will make the combined organization a leading global securities servicing organization with more than $17 trillion in assets under custody and administration.
Ken Lopian, senior executive vice president at The Bank of New York, said, "We have witnessed strong growth across the Asia Pacific region as we have steadily built our franchise by delivering a broad array of securities services to institutions in the region. The development and growth of our global funds services infrastructure in Singapore, as well as successful qualified domestic institutional investor and qualified foreign institutional investor programs in the Chinese market, are a clear indication of the Bank's commitment to our clients in the region. We strive to be the acknowledged global leader in helping our clients succeed in the world's financial markets, and this type of independent recognition reflects our continued progress in achieving that vision."
The Asset is a monthly financial business magazine written for users and providers of financial services in Asia. Its Triple A Transaction Banking Awards, which are decided by the magazine's editorial board, are designed to identify excellence in the financial services industry.
The Bank of New York is one of the world's leading securities servicing organizations with more than $13 trillion in assets under custody and administration. It offers a wide range of investor services in Asia, where it is a leader in custody and global fund services, securities lending, collateral management, corporate trust, depositary receipts and transfer agency services. The Bank has been conducting business in the Asia-Pacific region for over 50 years and currently has 18 offices in 12 countries in the region.
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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