The Bank of New York has reported that it has created two new business units.
The first, Global Investor Services will combine the custody, fund services, risk services, accounting, and outsourcing business units and unify related product development and operational support teams. The organization, with more than $11 trillion in assets under custody, will be headed by Timothy F. Keaney, who has been promoted to senior executive vice president. Keaney, who is based in London, will continue in his current role as head of Europe and continue to report to the Companys president, Gerald L. Hassell.
The second is the new Global Client Management organization that aligns client management teams covering more than 100 markets worldwide into one global unit and will be headed by Torry Berntsen.
Bernsten has been promoted to senior executive vice president along with Kenneth A. Lopian, who has been promoted to senior executive vice president and deputy head of Global Client Management, reporting to Berntsen. Lopian will continue to oversee Global Sales Coordination.
By aligning our global organizations under these talented leaders, we will significantly enhance our ability to offer globally integrated product, sales and service offerings, said Hassell. As our clients continue to expand their operations across geographies, we are well-positioned to meet their evolving requirements and help them with innovative solutions across the global markets.