Bank of New York to Work With Stephens

by Arkansas Business staff  on Monday, Jun. 23, 2003 11:29 am  

The Bank of New York said Monday that it has been appointed government securities clearing agent by Stephens Inc. of Little Rock.

The Bank of New York provides U.S. government securities clearance services and transaction servicing and financing to international banks and brokers. The bank works to help clients reduce failed trades and improve transaction turnaround and efficiencies.

"Our goal is to help our clients meet their business objectives and gain a competitive edge in the marketplace," said Art Certosimo, senior vice president and head of broker-dealer services at The Bank of New York. "We believe that The Bank of New York's leading technology will enable Stephens to achieve operational efficiencies and better serve its clients."

The bank is a subsidiary of The Bank of New York Co. Inc. (NYSE: BK). The Bank of New York, founded in 1784, is the oldest bank in the United States.

Stephens Inc. is a broker-dealer with businesses in retail and institutional brokerage, money management, municipal banking, investment banking and research.



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