BONY chases mid-market opening; Bank sees its chance in market Chase owns. (Bank of New York; Chase Manhattan)

Crain's New York Business, May, 1996 by Gabriel, Frederick

Bank sees its chance in market Chase owns Looking to take advantage of the merger of its two biggest rivals, the Bank of New York is making a major new push into the city's profitable middle market. Bank of New York, the fifth-largest bank based in the city, is quietly expanding its abilities to underwrite and sell corporate debt securities to midsized companies, those with revenues up to $500 million.

Next month, the bank, with $53.4 billion in assets, will launch a direct-mail campaign targeting more than 1,000 companies in New York, New Jersey and Connecticut. It is also hiring more middle-market account executives to staff lending offices throughout the tristate area. "We are at a pivotal point in our approach to the middle market," says Joseph F. Maloney,...

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