The Bank of New York Appointed by Reuters Pension Fund as Custodian
LONDON, August 16, 2005 - The Bank of New York, a global leader in securities servicing, has been selected by Reuters Pension Fund, the major UK pension scheme of the world’s largest multimedia news agency, to provide custody services. The appointment is the result of a competitive review process conducted by Watson Wyatt, the pension scheme’s actuary.
Greg Meekings, chairman of Reuters Pension Fund, said, "Our review process highlighted the strong caliber of the Bank’s custody team and its flexible approach. We were impressed by their expertise and technology, which we believe will meet our high standards in areas like performance measurement, risk management and reporting."
Benjie Fraser, managing director at The Bank of New York, said, "This appointment reflects our experience and success in the custody market. We are committed to building on the Bank’s position as a market leader in this sector, and winning the business of prestigious companies such as Reuters shows how strong our
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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