Bank of New York announced Monday that it had begun an advertising campaign to help drive growth in its private banking business.
The campaign is the cornerstone of a branding program designed to capitalize on the bank's longstanding reputation, it said. The ad push underscores Bank of New York's strategic focus on investing in the private bank, which manages and administers more than $60 billion of assets for high-net-worth clients. It will make use of television, print, and digital media.
The bank has recently expanded its wealth management presence in New England and started a unit that is focused on delivering objective advice and wealth management solutions through investment advisers. It also said it plans to expand its network of private banking offices in the New York area during the coming year.
Bank of New York agreed in April to swap its 338 New York-area retail branches to JPMorgan Chase & Co. for the latter's corporate trust business and $150 million in cash.
