BNY Revamps Securities Units
MANAGEMENT & STRATEGY
NEW YORK--The Bank of New York has created BNY Securities Group, corralling the bank’s array of institutional agency brokerage and correspondent clearing services into a single unit targeted at money managers, broker-dealers and corporates.
The group is headed by Joseph Velli, with Ralph Mastrangelo, formerly executive vice president of brokerage and clearing services for BNY, acting as deputy head.
The group’s business units include BNY Brokerage, which has yet to receive NYSE approval to trade
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