AIB/BNY Securities Services (Ireland) Limited (AIB/BNY), the joint venture between Allied Irish Banks plc and The Bank of New York was named Ireland fund administrator of the year by International Custody & Fund Administration magazine.
AIB/BNY, which handles fund administration, fund accounting, shareholder, trustee and other services for Irish and non-Irish domiciled funds, was selected by the judges from a record number of entries for the part it has played in meeting its clients demands, and its leading role in consulting and partnering with the fund administration industry.
Over the last 10 years AIB/BNY has become one of Irelands largest fund administrators, with $187 billion worth of funds under administration in Ireland as at January 31, 2006. Last year AIB/BNY announced plans to open a second office in Cork from April 2006 with the creation of an additional 200 new jobs by the end of 2008, in addition to its Dublin office which currently employs 500 people.
This is a very prestigious award and reflects our excellent position and leadership in servicing the offshore fund administration market. said Lorna Sherlock, Managing Director at AIB/BNY Securities Services. We serve a wide range and size of customers and continue to build our product to meet their unique needs.
The judging panel was chaired by International Custody & Fund Administration editor Jason Conway Roberts and included industry experts such as Stefan Bichsel, president of the European Fund and Asset Management Association; Dr. Werner Frey, CEO of the European Securities Forum; Crispin Henderson, COO of Threadneedle Investments; John Li, chairman, KPMG Luxembourg; and Terry McCaughey, independent advisor for Terry McCaughey Associates.