The Bank of New York announced today that it has been selected by
Diebold, Incorporated as master trustee/custodian for its defined benefit plan, which has in excess of $300 million in defined benefit assets. As part of this appointment, The Bank of New York will also provide performance analytics and compliance services to Diebold.
“Our strong existing relationship with The Bank of New York as our stock transfer agent and registrar gives us great confidence in the Bank’s ability to provide the customized solutions necessary to support our corporate retirement plan needs,” said Gregory T. Geswein, senior vice president and chief financial officer, Diebold. “We regard the Bank’s emphasis on technological innovation and high-quality service as highly important factors in helping us to achieve our defined benefit plan objectives.”
T. Andrew Smith, senior vice president of The Bank of New York’s Plan Sponsor Services Division, said, “We are delighted that Diebold has decided to expand its relationship with The Bank of New York. This appointment underscores our commitment to the corporate pension fund arena. We welcome the opportunity this appointment affords to capitalize on our investment in both people and technology in support of Diebold’s retirement plan goals.”