The Bank of New York Appointed by Allianz Investmentbank AG as Global Custodian
LONDON, June 21, 2007 -- The Bank of New York, a leading global provider of securities servicing, has been appointed by Allianz Investmentbank AG in Vienna, Austria to provide global custody services for the Allianz Group’s Austrian funds business. The Bank is providing global custody services for 16 public mutual and institutional (Spezialfonds) funds managed by the Vienna-based Allianz Invest Kapitalanlagegesellschaft mbH. The portfolio contains assets exceeding $US3.3 billion and covering 23 different markets.
Werner Müller, member of the board of management, Allianz Investmentbank AG, said, “We appointed The Bank of New York as it has a proven track record in providing innovative and dependable custody services across the globe to specialist players like us. From the initial meeting right throughout the test phase and to its appointment, the Bank demonstrated a thoroughly consultative approach which impressed us very much. We’re looking forward to working with the team.”
Tim Keaney, senior executive vice president and head of Global European Investor Services at The Bank of New York, said, “Allianz is a sophisticated, prestigious institution with a key role in the Austrian market. The mandate to service their global assets is a real testament to the investment we have made and the focus we have on our custody business in the region. Allianz Investmentbank has brought sophisticated demands to this project and our investment in technology has allowed us to provide our new client with a solution that meets their complex custody needs.”
Allianz Investmentbank was founded in 1989 by the Allianz Group in Austria. The bank is part of Allianz Global Investors (previously Allianz Dresdner Asset Management Group), which was established as the Allianz Group’s third core business line in 1997.
AIB’s more than 200 investment professionals benefit from the Allianz Group’s global know-how in Asset Management. The Allianz Group is the second largest Asset Manager worldwide, with over 110,000 employees in 70 countries managing more than $US1.7 trillion in assets. Additional information about AIB is available at www.allianzinvest.at.
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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