The Bank of New York Named as “Custodian of the Year” at UK Pensions Awards
LONDON, April 27, 2007 -- The Bank of New York, a global leader in securities servicing, was this week named “Custodian of the Year” at the 2007 UK Pensions Awards organized by Professional Pensions magazine. The award was based on the innovative role the Bank has delivered services to its pensions clients, the continued improvement of service standards and the way its performance and communication has benefited clients.
The judges were impressed by innovations that included enhancements to the Bank’s information delivery platform INFORM, enabling clients to gain better access to the information they need, along with product developments to support clients in US Class actions and claims in respect of tax discrimination following a recent European Court judgment on this issue. This is the second time in 3 years that the Bank has received this prestigious award.
Tim Keaney, senior executive vice president and head of Europe at The Bank of New York, said, “Our customers expect us to be at the forefront of product and service development to ensure that their complex needs are met. This accolade is testament to the significant advances we have made during the past year to keep abreast of the ever changing pension landscape and our commitment to providing the highest level of service to our clients. We are pleased that our clients provided some very positive testaments, which played a big part in our receiving this award.”
The Bank of New York services more than 20 per cent of the UK pension fund sector, with clients’ portfolios ranging from £10 million to £30 billion in value. Other key initiatives recognized by the judges include an annual Pension Summit which provides a platform for pension professionals to discuss industry issues such as investing in alternatives and risk management; Pensions News, an electronic industry newsletter targeted specifically at the Pensions sector, and a pensions Client Advisory Board which provides a forum for senior representatives from the Bank’s major European clients to discuss strategic trends and developments, all of which ensures that the Bank’s focus is aligned with our clients’ requirements.
The UK Pensions Awards is widely recognized as the industry’s flagship awards ceremony. The judging panel was chaired by Professional Pensions editor Len Roberts and included industry experts such as National Association of Pension Funds chief executive Joanne Segars and Pensions Management Institute chief executive Vince Linnane.
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 wealth management. 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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Ivan Royle
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