The Bank of New York announced today that
it
has
been appointed Federal Reserve clearing agent by Linsco/Private Ledger and Sterne, Agee & Leach, Inc.
“We are pleased to welcome Linsco/Private Ledger and Sterne, Agee & Leach to The Bank of New York,” says Art Certosimo, senior vice president and head of broker dealer services at The Bank of New York. “Our aim is to assist our clients in meeting their business goals and gaining a competitive edge in the marketplace. To do this, we work closely with our clients to develop and enhance products and services, such as collateral management, global clearance, execution and treasury services.”
Amy Wong, senior vice president at Linsco/Private Ledger, added: “After an extensive evaluation, we determined that The Bank of New York had the most advanced technology to support our clearing needs. The Bank’s extensive industry experience gives us confidence in its ability to support a successful and enduring relationship.”
Linsco/Private Ledger, a broker dealer registered with NASD and SEC, is a wholly owned subsidiary of LPL Holdings, Inc. Linsco/Private Ledger is an independent brokerage firm with dual headquarters in San Diego and Boston.
Sterne, Agee & Leach, Inc. is the full-service broker dealer branch of Sterne, Agee & Leach Group. Headquartered in Birmingham, Alabama, Sterne, Agee & Leach is a privately owned firm consisting of retail securities brokerage, investment banking, correspondent clearing and investment advisory services.
“The Bank of New York’s superior client services and tradition of technological innovation were critical factors in our selection,” says Earl Bukolt, senior vice president at Sterne, Agee & Leach, Inc. “We believe the Bank will help us enhance efficiency and achieve our growth objectives.”