The Bank of New York has been selected by Assured Guaranty Ltd. as global custodian.
“The Bank’s strong product offering and proven commitment to our specific market segment were critical factors in our decision to select them as our global custodian, and we look forward to working with their highly regarded insurance industry specialists,” says Robert Mills, CFO of Assured Guaranty Ltd.
Louis DiFranco, executive vice president and head of the Investment Management and Insurance Group at The Bank of New York, added: “This new appointment demonstrates the broad confidence clients place in our ability to provide securities servicing. It also underscores The Bank of New York’s commitment to clients in the financial guaranty market segment, which has business characteristics and service needs that are fundamentally different from other segments of the insurance industry.”