The Bank of New York has been selected by Lehman Brothers, a global investment bank, to act as collateral agent for one of the first tri-party repurchase agreement transactions involving an Asian entity in the local market.
Lehman Brothers expects the transaction to serve as a springboard for their collateral management program in Asia moving forward.
“The Bank of New York is a proven innovator in the collateral management market committed to providing its clients with the highest quality service and customized solutions,” said Art Certosimo, executive vice president and head of broker dealer services at The Bank of New York. “We expect demand for tri-party collateral management to grow rapidly among Asian-based organizations, and we commend Lehman Brothers for helping to pioneer this trend.”