The Bank of New York Earns Top Transfer Agent Recognition for Fifth Consecutive Year
NEW YORK, October 30, 2006 -- The Bank of New York, a global leader in securities servicing, announced today that its Stock Transfer Division has been rated the top domestic transfer agent in the large agent category for the fifth year in a row, according to an independent survey conducted by Group Five, Inc. The Bank achieved an overall client satisfaction rating of 87% in the survey, outpacing all competitors in its category.
Group Five, a consulting and shareholder research company, conducts the study annually to assess clients’ opinions of services provided to registered shareowners by securities transfer agents. The large agent category consists of agents who serve more than 10 million shareholder accounts.
In the survey, The Bank of New York rated number one when compared to its peer group in the important "likely to recommend" category, as well as in a variety of other major categories including fees, out-of-pockets, shareholder service and shareholder Internet sites.
Gary Nazare, managing director and head of The Bank of New York’s Transfer Agency Division, said, "The Bank's consistent success is driven by our focused approach to understanding both client and shareholder needs. We continue to find ways to provide high quality service through innovative thinking, collaborative action and unwavering client focus. Judging from the results of the last five years, our strategy resonates with clients and differentiates us from our competitors."
The Bank of New York is among the world’s leading transfer agents, providing shareholder services to more than 1,950 U.S. and non-U.S. corporations worldwide. The Bank provides recordkeeping, dividend paying and reinvestment, proxy tabulation, employee investment plan, and corporate reorganization services for corporate issuers of equity securities. More information is available at www.stockbny.com.
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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