The Bank of New York Mellon, the global leader in asset management and securities servicing, will add 50 new employees to its office at 2 North LaSalle Street in Chicago to support its rapidly growing global corporate trust business.
This expansion will bring the total number of employees in the office to 200 by the end of 2008.
Karen B. Peetz, senior executive vice president of The Bank of New York Mellon and head of the Global Corporate Trust business, said, "The expansion of our office in Chicago reflects strong global growth in our corporate trust business and demonstrates our strategic focus on delivering superior client service. It will help us accommodate future growth and provide excellent career opportunities for our employees."
In addition to Chicago, the company recently announced it will expand its office in Pittsburgh to support its corporate trust business, where it expects to add 150 new employees by the end of 2008.
Last year, The Bank of New York Mellon acquired JPMorgan Chase's corporate trust business, making it the leading provider of corporate trust services worldwide. Corporate trust providers are appointed by corporations, municipal governments and other entities issuing debt to perform a variety of duties, including servicing and maintaining the debt issue, processing principal and interest payments for investors, representing investors in defaults, and providing value-added services for complex debt structures.