The Bank of New York Mellon Expands Corporate Trust Office in Chicago
October 10 2007 - 9:30AM
PR Newswire (US)
50 Jobs to be Added by End of 2008 CHICAGO, Oct. 10
/PRNewswire-FirstCall/ -- The Bank of New York Mellon, the global
leader in asset management and securities servicing, will add 50
new employees to its office at 2 North LaSalle Street in Chicago to
support its rapidly growing global corporate trust business. This
expansion will bring the total number of employees in the office to
200 by the end of 2008. Karen B. Peetz, senior executive vice
president of The Bank of New York Mellon and head of the Global
Corporate Trust business, said, "The expansion of our office in
Chicago reflects strong global growth in our corporate trust
business and demonstrates our strategic focus on delivering
superior client service. It will help us accommodate future growth
and provide excellent career opportunities for our employees." In
addition to Chicago, the company recently announced it will expand
its office in Pittsburgh to support its corporate trust business,
where it expects to add 150 new employees by the end of 2008. Last
year, The Bank of New York Mellon acquired JPMorgan Chase's
corporate trust business, making it the leading provider of
corporate trust services worldwide. Corporate trust providers are
appointed by corporations, municipal governments and other entities
issuing debt to perform a variety of duties, including servicing
and maintaining the debt issue, processing principal and interest
payments for investors, representing investors in defaults, and
providing value-added services for complex debt structures. The
Bank of New York Mellon's corporate trust business services $11
trillion in outstanding debt from 54 locations around the world. It
services all major debt categories, including corporate and
municipal debt, mortgage- backed and asset-backed securities,
collateralized debt obligations, derivative securities and
international debt offerings. The Bank of New York Mellon's
corporate trust and agency services are delivered through The Bank
of New York subsidiary. The Bank of New York Mellon Corporation is
a global financial services company focused on helping clients
manage and service their financial assets, operating in 37
countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions,
corporations and high-net-worth individuals, providing superior
asset management and wealth management, asset servicing, issuer
services, clearing services and treasury services through a
worldwide client-focused team. It has more than $20 trillion in
assets under custody and administration, more than $1 trillion in
assets under management and services $11 trillion in outstanding
debt. Additional information is available at
http://www.bnymellon.com/. DATASOURCE: The Bank of New York Mellon
Corporation CONTACT: Kevin Heine of The Bank of New York Mellon
Corporation, +1-212-635-1590, or Web site:
http://www.bnymellon.com/
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