The Bank of New York today announced that the Group Five survey had rated the bank as the number one domestic transfer agent services provider – in the large agent category (agents serving more than 8,000,000 shareholder accounts) that is.
Group Five’s Shareholder Services Benchmark Report is an annual study of corporate clients’ opinions of the services provided by commercial transfer agents, the Bank’s Stock Transfer Division received the highest score for overall client satisfaction in the large agent category. This distinction follows a December 2001 ranking that measured the “quality of transfer agent services” provided to American depositary receipt investors by international depositary banks. In that survey, the Bank led in all categories amongst its competitors.
The annual study conducted by Group Five, a consulting and shareholder research company headquartered in Skillman, New Jersey, assesses clients’ opinions of services provided to registered shareowners by securities transfer agents. The study measures satisfaction in six major services provided by shareholder services firms. These are: account administration, stock transfers, record keeping, dividend disbursements, dividend reinvestment plan services, and service to shareowners. In total, 130 of the Bank’s clients, representing more than 7 million shareholders, were surveyed.
The Bank of New York outperformed its competition in five of the six categories, having achieved an overall satisfaction rating of 85.
Eric D. Kamback, senior vice president of The Bank of New York’s Stock Transfer Division, said, “Our success can be directly attributed to our ability to deliver optimum solutions to our clients. We have also maintained an unwavering focus on quality, supported by our ongoing commitment to technology. To be recognized as a leader both domestically and internationally attests to the Bank’s commitment of providing our clients and their investors with quality, integrated stock transfer and depositary receipt services.
The Bank of New York provides shareholder services to more than 1,950 U.S. and non-U.S. corporations worldwide. The Bank provides recordkeeping, dividend paying and reinvestment, proxy tabulation, employee benefit plan, and corporate reorganization services for corporate issuers of equity securities.