Bank of New York Co. has hired a veteran trust services banker to head its domestic corporate trust services, the company announced last week.
Karen B. Peetz, previously with Chase Manhattan Bank as head of global client management and as a sales manager for global trust services, is now a senior vice president and division head with responsibility for domestic corporate trust services.
Bank of New York said it created the post because of fast growth in its business of acting as a trustee for corporate and municipal bonds.
The company keeps records for more than 60,000 bond issues, accounting for more than $600 billion in obligations.
Bank of New York has been quickly acquiring books of corporate trust business from other financial institutions.
Last week it bought Mark Twain Bancshares' corporate trust business from Mercantile Bancorp, as well as Bank of Montreal's United Kingdom corporate trust business.
Ms. Peetz has 15 years of financial services experience in areas ranging from client services to sales to credit and risk management.