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Banking giant to open second Manchester office

22/04/2008

Manchester's reputation as a major European hub for the financial and professional services industry has been given a boost by the Bank of New York's decision to open a second office in the city centre.

One of the world's leading asset management companies, the bank opened an office in Piccadilly nearly three years ago and now employs 800 people in the city.

It has just signed an agreement to take on an extra 50,000 sq ft of office at Spinningfields, which is fast becoming the destination of choice for corporates, banks and financial services firms.

According to Jackie Williams, the bank's managing director, Manchester is the "ideal location" to support the company's rapid growth.

"It has become a major success story for our global operations in just over two and a half years," she said.

Ms Williams added: "The availability of talented individuals has allowed us to quickly build an 800-strong highly motivated and committed team which is delivering the exceptional client service which is the bedrock of the organisation's success."

The bank recently won a National Training Award for its training programmes developed for its employees in Manchester.

It has more than $23 trillion (£11 trillion) in assets under custody and administration, and more than $1.1 trillion under management.