AIB forms global custody venture with BNY

Allied Irish Bank (AIB) and the Bank of New York (BNY) have formed a new joint venture for domestic Irish and global custody and trustee businesses.

AIB/BNY Trust Company, the new joint venture company, will assume the custody and trustee services currently delivered by AIB. The Irish bank has built a presence in Ireland over the last 10 years and now has assets in custody of more than €75bn ($69bn).

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