eFinancialCareers

• Headquarters' Location:

  London, UK

• Presence:

  Global

• Number of Employees:

  23,575

• Revenues:

  USD 6.865 billion (2005)

• Website:

  http://www.bankofny.com

Company Snapshot

The Bank of New York is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. We have a long tradition of collaborating with clients to deliver innovative solutions through our core competencies: securities servicing, treasury management and investment management. Our extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations.

Our vision and strategic direction is to be our clients’ preferred partner – not a competitor – proactively offering solutions that help them succeed in the world’s rapidly evolving markets where constant innovation is essential. We aim to be the acknowledged global leader in our core businesses and we have a steadfast commitment to continue to grow our business in size, scope, sophistication and complexity.

We have over 5,000 staff based in Europe, forming a significant percentage of our worldwide staff of 23,575 who are located in branches, subsidiaries, representative offices, affiliates, and operations centres in 33 countries.

The Bank of New York recently announced that it has entered into a definitive agreement with JPMorgan Chase to acquire its corporate trust business. This will strengthen our leadership position in corporate trust both in the US and internationally, serving a combined client base with $8 trillion in total debt outstanding in 20 countries. The transaction further increases the Bank’s focus on the trust, custody and securities processing businesses that have fueled the Company’s growth in recent years and that are at the core of our long-term business strategy.

Culture & History

The Bank of New York’s corporate culture is rooted in the values of excellence, integrity, teamwork, respect and personal responsibility. Loyalty to these principles has enabled us to steadily increase over more than two centuries the value we deliver to clients. Today, these principles are embedded in CLIENTfirst, our dedicated quality assurance programme, which ensures our focus remains squarely on our clients. As an industry leader, the Bank continually stays ahead of market trends and we pledge to our clients to listen carefully, act responsively and think strategically.

The Bank of New York, founded in 1784 by Alexander Hamilton, is the oldest bank in the United States and has a distinguished history of serving clients around the world. The Bank has operated for more than 200 years on its founding philosophy of strong fiscal policy and services that meet the needs of its clients. Our vision and management have carried us from a traditional bank into the world's premier financial asset servicer.

Global expansion began with an office in London in 1966 and the acquisition of The Irving Bank Corporation in 1988. This transaction, between two highly complementary institutions, created the tenth largest bank in the US at that time and set the stage for The Bank of New York today. More recently, in the UK, the Bank made a strategic decision in 1999 to purchase the RBS Trust business. This acquisition resulted in The Bank of New York having over 20% of the UK pension sector assets under custody and consolidated our position in the European market.

Financial Facts

For the full year 2005, net income was $1.571 billion and total revenues of $6.865 billion were up 9% from 2004. Capital ratios remained strong, and at year-end were above our targets for Tier I, Total Capital and the TCE ratio, providing us with good capital flexibility for 2006.

The Bank of New York continues to grow and expand its capabilities via product innovation and acquisitions. Focused acquisitions, more than 80 acquisitions in the last ten years, increase our penetration of global markets and have broadened our client base. We will continue to evaluate new business areas that complement our business model and support our growth as a financial services company.

Our businesses are well positioned to continue to benefit from attractive long-term trends. Trends such as the growth of financial assets worldwide; increased cross-border investing; regulatory reporting requirements in multiple domiciles; and the growing reliance on technology to deliver information on a “real-time” basis, all play to the strength of The Bank of New York’s servicing model.

Another growing trend that drives our business is that of outsourcing. With the trend for outsourcing non-core functions in the buy-side community never stronger, the Bank’s outsourcing service brings together investment management outsourcing capabilities under one umbrella, offering investment managers a consultative approach to implementing a customised outsourcing strategy that spans several product areas and client types.

Training & Development

At The Bank of New York, employee development is an integral component of our business strategy. We are committed to building an organisation that fosters growth through directed educational programmes and career-pathing, and we continually expand and improve upon our educational offerings and training initiatives.

The Bank’s extensive global training programme helps ensure we attract and retain the best and brightest employees and, in turn, it provides them with the skills necessary to deliver the highest quality of service to our clients. In fact, recent client research confirms that the talent and tenure of our employees are among the key differentiators that set us apart from our competitors.

Diversity

Our employee population represents a wide range of backgrounds and experiences that blend together to give us an edge in our competitive marketplace. We are proud of our commitment to diversity and have received a number of awards from organisations dedicated to encouraging diversity in the workplace.

recruitment@bankofny.com