TITLE

BoNY to Bolster Trustee Business in Asset Swap

AUTHOR(S)
Meyers, Maxwell
PUB. DATE
April 2006
SOURCE
Bond Buyer;4/11/2006, Vol. 356 Issue 32358, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the Bank of New York Co. Inc. has traded its retail branches for JPMorgan Chase & Co.'s global corporate trust business. The deal was intended to strengthen the bank's standing in the municipal trustee rankings. According to bank president Gerald L. Hassell, the growing market for collateralized debt obligations would be a firm arena for the trust operation.
ACCESSION #
20475395

 

Related Articles

  • JPM, Bank of N.Y. Set to Close Swap. Rieker, Matthias // American Banker;10/2/2006, Vol. 171 Issue 189, p19 

    This article reports that JPMorgan Chase & Co. and Bank of New York Co. Inc. were set to close their asset swap. JPMorgan Chase would trade its corporate trust business and $150 million in cash for Bank of New York's retail and middle market banking business, including 338 branches and $14.5...

  • More Banks Rethink 'Financial Supermarket'. Lewis, Janet // Investment Dealers' Digest;4/17/2006, Vol. 72 Issue 15, p7 

    The article discusses the asset swapping of JPMorgan Chase & Co. and Bank of New York Co. Inc. (BNY). The deal allows BNY to exchange its retail branch network in New York for a 150 million dollar cash and the corporate trust business from JPMorgan. According to Bruce Van Saun, chief financial...

  • JPMorgan Chase/Bank of New York Asset Swap Demonstrates Continuing Creativity and Diversity of M&A in Financial Services. Herlihy, Edward D.; Lam, David K.; Makow, Lawrence S.; Rusman, Jared M.; Wasserman, Craig M. // Venulex Legal Summaries;2006 Q2, p1 

    The article focuses on the decision of JPMorgan Chase and Bank of New York to swap their assets. The deal demonstrates continuing creativity and diversity of mergers and acquisitions (M&A) in financial services. JPMorgan decided to trade its corporate trust business for the retail and idle...

  • Continuity Plans Continue.  // Securities Industry News;8/9/2004, Vol. 16 Issue 27, p4 

    Highlights the business continuity plans of several financial institutions in the U.S. as of August 9, 2004. Number of securities services operations employees who were transferred to the new facility of Bank of New York and J.P. Morgan Chase; Plan of Citigroup to relocate its technology and...

  • Report: JPMorgan in Talks to Buy BoNY's Retail Branches. Meyers, Maxwell // Bond Buyer;3/31/2006, Vol. 355 Issue 32351, p6 

    The article reports on a report that JPMorgan Chase & Co. will buy Bank of New York Co. retail branches amounting to four billion dollars. According to Richard Bove, equity analyst, this deal was advantageous for both companies, since JPMorgan has shown an interest in developing their retail...

  • BNY Mellon Struggles to Fix Tech Issues.  // Tradersmagazine.com;8/31/2015, p1 

    The article discusses the technical glitch in the accounting system of the Bank of New York which has caused miscalculations of billions of dollars of assets and Chief Executive Officer, Gerald Hassell has said the glitch will be resolved and the client's issues will be solved.

  • Chase to hire personal bankers in Connecticut. Occhipinti, Christina // Fairfield County Business Journal;2/5/2007, Vol. 46 Issue 6, p19 

    The article provides information on the plan Chase Bank to hire 485 personal bankers and 97 staffs in Connecticut. According to Michael Fusco, two thirds of the personal bankers will join the Bank of New York Co. branches and they will be responsible for explaining the bank's new product. He...

  • Guvvie Overhaul. Kite, Shane // Securities Industry News;11/18/2002, Vol. 14 Issue 44, p1 

    Reports that securities industry in the U.S. has shown to favor an interoperability contingency between the market's two major banks, J. P. Morgan Chase & Co. and Bank of New York regarding future of clearing and settlement for government securities. Reaction of professionals from both banks...

  • Guvvie Bond Banks Drop Dual BCP. Kite, Shane // Securities Industry News;5/12/2003, Vol. 15 Issue 19, p1 

    This article reports that J.P. Morgan Chase & Co. and the Bank of New York Co. Inc. will not pursue a contingency plan to mutually back up their operations to ensure that settlement in the $1.3 trillion government bond market runs uninterrupted amid a catastrophe or outage.Because the group...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics