NYCEDC – NYC Business Climate – Success Stories – The Bank of New York Company, Inc

Success Stories

FINANCIAL SERVICES

THE BANK OF NEW YORK COMPANY, INC.


	We are grateful to the City of New York for helping us maintain continuity of service in the days after September 11th. In the wake of the tragedy, we were determined to stay in New York and honor our commitment to this world-class community, and NYCEDC's assistance helped make that possible.
	Thomas A. Renyi, Chairman and CEO, The Bank of New York Company, Inc.

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BUSINESS NEED

After maintaining a presence in Lower Manhattan for more than 200 years, The Bank of New York needed to temporarily relocate displaced employees from three facilities after the World Trade Center attacks. As a longer term solution, The Bank of New York also wanted to explore ways of further diversifying the locations of its core business functions.

SOLUTION

NYCEDC addressed The Bank of New York's immediate facility needs by offering temporary space in a Wall Street building controlled by the City. In order to facilitate timely re-occupancy of the Bank’s main data center, NYCEDC coordinated with City agencies and public utilities to expedite repairs to destroyed and damaged infrastructure.

To meet the company's geographic diversification goals, NYCEDC proposed the Atlantic Terminal, a 400,000-square-foot office development atop a renovated railroad terminal and retail hub in Downtown Brooklyn. The Bank of New York moved 1,250 staff members to a new, state-of-the-art facility at this site, which will ultimately house 1,400 employees.

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