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BNY Gets Lincoln National Life Custody Services Business

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NU Online News Service, July 19, 10:15 a.m. – The Bank of New York Company Inc., New York, has won a contract to handle custody and securities lending services for the general account assets at Lincoln National Life.

Lincoln National Life is a subsidiary of Lincoln National Corp., Fort Wayne, Ind. It says it picked Bank of New York because of the bank’s experience with insurance companies as well as with securities services.

Earlier this year, Bank of New York won a contract to provide funding accounting and custody services for the mutual fund arm of John Hancock Financial Services Inc., Boston.