Source: Bank of New York
The Bank of New York, a leading global provider of securities servicing, has been appointed by Allianz Investmentbank AG in Vienna, Austria to provide global custody services for the Allianz Group's Austrian funds business.
The Bank is providing global custody services for 16 public mutual and institutional (Spezialfonds) funds managed by the Vienna-based Allianz Invest Kapitalanlagegesellschaft mbH. The portfolio contains assets exceeding $3.3 billion and covering 23 different markets.
Werner Muller, member of the board of management, Allianz Investmentbank AG, said, "We appointed The Bank of New York as it has a proven track record in providing innovative and dependable custody services across the globe to specialist players like us. From the initial meeting right throughout the test phase and to its appointment, the Bank demonstrated a thoroughly consultative approach which impressed us very much. We're looking forward to working with the team."
Tim Keaney, senior executive vice president and head of Global European Investor Services at The Bank of New York, said, "Allianz is a sophisticated, prestigious institution with a key role in the Austrian market. The mandate to service their global assets is a real testament to the investment we have made and the focus we have on our custody business in the region. Allianz Investmentbank has brought sophisticated demands to this project and our investment in technology has allowed us to provide our new client with a solution that meets their complex custody needs."