The Bank of New York Appointed By ICI Pension Fund as Global Custodian
LONDON, July 28, 2005 -- The Bank of New York, a global leader in securities servicing, has been appointed global custodian for the pooled assets of the £230 million ICI Specialty Chemicals Pension Fund.
ICI selected The Bank of New York as custodian because of the Bank's superior accounting service and industry-leading custody capabilities. ICI also cited the Bank's strategic commitment to further strengthen its market leadership by establishing new custody relationships.
Benjie Fraser, managing director at The Bank of New York, said, "Our appointment by an ICI-group pension fund, a big name in this sector, is testimony to the strength of our global custody offering. We are continually investing in new products and better technology to enable us to provide tailored products and services that meet the specific needs of each of our clients."
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, investment management, and individual & regional banking services. 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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