Benjie Fraser, former head of UK sales to pension funds at State Street Bank & Trust Company, is joining the Bank of New York (BNY) as a managing director and deputy head of European sales.

Bank of New York, which has $6.8 trillion (€7.8 trillion) under custody, has raked in a number of mandates recently, including custody and fund administration for Julius Baer International in London. Julius Baer became the first European institution to outsource administration services.