The Bank of New York Appointed Global Custodian for Assured Guaranty Ltd.
NEW YORK, May 30, 2007--The Bank of New York, a global leader in securities servicing, has been selected by Assured Guaranty Ltd. as global custodian.
Robert Mills, chief financial officer of Assured Guaranty Ltd., said, "The Bank's strong product offering and proven commitment to our specific market segment were critical factors in our decision to select them as our global custodian, and we look forward to working with their highly regarded insurance industry specialists."
Louis DiFranco, executive vice president and head of the Investment Management and Insurance Group at The Bank of New York, said, "This new appointment demonstrates the broad confidence clients place in our ability to provide securities servicing. It also underscores The Bank of New York's commitment to clients in the financial guaranty market segment, which has business characteristics and service needs that are fundamentally different from other segments of the insurance industry."
Assured Guaranty Ltd. (NYSE: AGO) is a Bermuda-based holding company whose operating subsidiaries provide credit enhancement products to the U.S. and international public finance, structured finance and mortgage markets. More information can be found at www.assuredguaranty.com
The Bank of New York's Investment Management and Insurance Group manages the Bank's enterprise-wide relationships with investment management and insurance companies across all products of the Bank and all facets of the client organization. Its focus on ensuring client satisfaction and developing solutions through industry expertise results in the continual expansion of existing relationships. A sample of services currently provided to the financial guaranty market segment within this client base includes asset management, custody, collateral management, cash management, corporate trust, derivatives, foreign exchange, capital markets, transfer agency, and trade execution services.
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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