Message #7 From:
Stock News Bot Date: June 28, 2006 09:29:00 AM
BK News The Bank of New York's Transition Management Unit Receives Five ''Best in Class'' Rankings in PLANSPONSOR Survey
NEW YORK--(BUSINESS WIRE)--June 28, 2006--BNY Global Transition Management has been awarded five "Best in Class" rankings in PLANSPONSOR Magazine's 2006 transition management survey. BNY Global Transition Management is a division of BNY Brokerage Inc., a wholly owned subsidiary of The Bank of New York.
BNY Global Transition Management's five "Best in Class" rankings included two that survey participants identified as the elements most important to them in a transition - predicted trading costs (pre-trade) and level of actual trading costs (post-trade). BNY Global Transition Management also won Best in Class honors in discussion/review of alternative strategies (pre-trade), quality of operational support (post-trade) and interaction with managers and custodians (post-trade).
Kal Bassily, CFA, managing director and division head of BNY Global Transition Management, said, "It is particularly gratifying to win best in class recognition in both predicted and actual trading costs, two measures that best capture the overall success of a transition. Our clients regularly call on us to execute highly complex cross border transactions in multiple asset classes, and our top rankings in these key categories reflect their confidence that BNY Global Transition Management can be relied on to deliver top performance in the most difficult transitions."
For its 2006 transition management survey, PLANSPONSOR Magazine compiled detailed feedback from 537 institutional clients representing 1,101 portfolio transitions with a total value of $281 billion.
BNY Brokerage is a premier institutional agency brokerage firm that provides full-value brokerage solutions to institutional asset owners, asset managers, and broker-dealers worldwide. BNY Brokerage offers a full range of execution services, including specialized global transition management capabilities, commission management services, research and wholesale services. Additional information on BNY Brokerage is available at www.bnybrokerage.com.
BNY Securities Group is the global agency brokerage, clearing and financial services outsourcing sector of The Bank of New York Company, Inc. It provides institutions, broker-dealers and corporations with a broadly diversified suite of services and "The Power of Choice" through multiple business models. Through its broad range of businesses, BNY Securities Group offers creative solutions in trade execution, commission management, independent research, securities clearing and financial services outsourcing. BNY Securities Group is the largest provider of commission management services and offers global execution and clearing services in over 80 markets with offices in the U.S., Europe, Asia, and Australia. BNY Securities Group is an organization consisting of several broker-dealers and other companies. BNY Brokerage Inc. is a member of NYSE/NASD/SIPC. BNY Global Transition Management is a division of BNY Brokerage Inc.
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.
