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BNY ESI's Chief Prepares Assault

Traders Magazine, February 2002

ohn A. Byrne

It is an unmistakable sign that The Bank of New York's brokerage and clearing sector - in a new phase of expansion - will butt heads with two major rivals, Barclays Global Investors and State Street. Firing on all six of the proverbial cylinders, BONY's banking and clearing sector is marketing a new portfolio rebalancing service for money managers, launching ADR Direct, a platform for trading American Depositary Receipts, integrating G-Trade Services (the wholesale execution services it acquired from Credit Lyonnais), and aborbing Autranet, the agency brokerage previously operated by Credit Suisse First Boston.

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