The Bank of New York announced that it has completed its acquisition of Autranet, Inc., a wholly-owned, independently operated agency brokerage subsidiary of Credit Suisse First Boston (USA), Inc. Autranet will become part of The Bank of New York’s Brokerage and Clearing Services sector, which includes BNY ESI & Co.
Founded in 1980, Autranet is one of the largest providers of independently originated research services in the U.S., and maintains relationships with over 500 institutional investment managers. The company provides a full range of services covering every aspect of the third party research process including trade execution, operational and administrative support, research selection and procurement services and regulatory support.
Joseph M. Velli, senior executive vice president, head of the Bank’s brokerage and clearing services sector, said, “The completion of this acquisition underscores the Bank’s commitment to offering a comprehensive range of services to the institutional community and significantly expands and enhances our institutional brokerage capabilities. We are delighted to have Autranet’s clients and employees join our organization.”