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The Bank of New York Completes Acquisition of JPMorgan Chase's Corporate Trust Business in Exchange for Retail Banking Business.

Publication: PR Newswire
Publication Date: 02-OCT-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK, Oct. 2 /PRNewswire-FirstCall/ -- The Bank of New York Company, Inc. announced today it has completed its acquisition of JPMorgan Chase's corporate trust business in exchange for The Bank of New York's retail banking and regional middle-market businesses.

The transaction significantly strengthens The Bank of New York's leadership position in corporate trust both in the U.S. and internationally, serving a combined client base with $8 trillion in total debt outstanding in 20 countries. In addition, it sharpens the Bank's focus on the faster growing securities...

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