NEW YORK - Bank of New York Corp. has hired Benjie Fraser to be managing director and deputy head of European sales.
Mr. Fraser, who was the head of pension fund sales in the United Kingdom for State Street Bank and Trust Co. of Boston, is to sell Bank of New York's custody administration, offshore trusteeship, and securities processing services in Europe. He is based in London. The appointment took effect Oct. 10.
Compiled by Matt Ackermann
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
The state's Comptroller of Public Accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
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