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Bank of NY. Executive Summary Founded in 1784, the Bank of New York is the
oldest bank in the United States. It was the first bank ...
... The Royal Bank of Scotland this year canceled a joint venture with Scottish Power
to develop Work24, a site for small and midsize ... New York, NY: Sep 15, 2003. ...
... to make the letters in the design of the twenty dollar bill because New York is
a major money market with having the NY stock exchange and the world bank. ...
... The World Bank, the International Monetary Fund (IMF), and the later the ... have better
jobs, improved living standards and greater opportunity (NY Times, 2006 ...
... (2006). Tools of Monetary Policy. Retrieved on May 28, 2006 from http://www.ny.frb.
org/education/fed/tools.html. Federal Reserve Bank of Richmond. (2006). ...
Submitted by bella8168 on May 1, 2005
Category: Business
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Executive Summary
Founded in 1784, the Bank of New York is the oldest bank in the United States. It was the first bank in New York that opened just months after the departure of British troops from American soil in lower Manhattan. During that time period the monetary system was complex and confusing. The founders decided that The Bank of New York wasn't going to be a common institution that capitalized on land; it focused on specie, which is money in coins. Then in 1792 the first corporate stock to trade on the newly established New York Stock Exchange was the Bank of New York.
During the course of their 220-year history, The Bank of New York has seen the country through turbulent times - seven wars, ten economic depressions and the World Trade Center disaster. And yet, The Company has survived all these crises and emerged even stronger..
The Bank of New York is in the industry of Money Center Banks, which provide many services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. This company has a long tradition of collaborating with clients to focus on securities servicing, treasury management, investment management, and individual and regional banking services. This company also has an extensive global client base.
The Bank of New York is ranked 15th in its industry with a capital market of 21.2 billion. Some of its top three competitors are Citigroup Inc, JP Morgan Chase, and State Street Corp. Given its long history and conservative approach, it is no wonder that The Bank of New York is one of the leading retail banks in the Metropolitan Area. It has 350 locations which not only offer traditional banking, but insurance and investment services.
Although the stock price of The Bank of New York has decreased over the past year, it is our opinion that it would be a good opportunity to buy the stock at its price. The most recent quarterly earnings have...
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