The Bank of New York (BNY) announced today that insurer Chubb Corporation has chosen it to provide additional global custody services.
“After a thorough evaluation process, we decided to expand our global custody relationship with The Bank of New York,” says Philip
J.
Sempier, vice president and treasurer at The Chubb Corporation. “We have been impressed with INFORM, the Bank’s information delivery platform, and their flexible reporting capabilities, as well as the quality of service offered by their insurance custody specialists.”
The Bank of New York’s Insurance Services Division provides custody, cash management, investment risk management, foreign exchange, securities lending, trustee services, and fixed income and equity trade execution.
“We are pleased that The Chubb Corporation has decided to expand its relationship with The Bank of New York,” says Robert R. Field, executive vice president at The Bank of New York. “Our goal is to help our insurance clients gain a competitive advantage in the marketplace. We dedicate needed resources so that our team of insurance experts can develop services that meet the changing needs of our clients.”