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Life Health > Life Insurance

New York Vendor Wins $8 Billion Custody Account

By Staff Writer

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NU Online News Service, Nov. 3, 2004, 4:26 p.m. EST

Bank of New York Company Inc., New York, will be providing support services for Great-West Life & Annuity Insurance.[@@]

Great-West, a unit of Power Corporation of America, Montreal, has asked BNY to handle custody, insurance trust and securities lending services for $8 billion in invested assets. Great-West acquired the assets when it bought Canada Life Financial Corp., Toronto, in 2003.

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