The Bank of New York retained its number one overall U.S. trustee position for the first half of 2005, according to data provided by Thomson Financial. The ranking is based on the number of debt issuances across the U.S. municipal and U.S. taxable debt markets.
The Bank of New York took the top overall position with 694 issuances, valued at $194.8 billion in proceeds. In addition, the Bank maintained its number one high yield debt position, with 49 issuances, and improved its mortgage-backed trustee ranking to take the number one position with 64 issuances. The Bank also served as trustee on 381 municipal debt issues, up 30% from first quarter 2005.
Karen Peetz, executive vice president and head of The Bank of New York’s Corporate Trust Services Division, said, “This number one ranking reinforces our leadership across all corporate trust products and services. We are particularly pleased to see our individual category ranking for mortgage-backed securities climb to the top position. Through our relationship management team, we will continue to work closely with our municipal, corporate, and structured finance clients to create customized solutions that meet their unique business needs.”