Bank of N.Y. Does a Quick Change: Converts Data for Acquired Barclays Units in 2 Days

By Iida, Jeanne | American Banker, December 24, 1992 | Go to article overview

Bank of N.Y. Does a Quick Change: Converts Data for Acquired Barclays Units in 2 Days


Iida, Jeanne, American Banker


Converts Data for Acquired Barclays Units in 2 Days

Fighting bad weather, Bank of New York Co. successfully completed the conversion of all the branches it acquired from Barclays Bank PLC to its own computer systems last week.

The conversion took place during a storm that battered the New York metropolitan area on the weekend after the merger became official.

The storm's extensive flooding caused many banks to reduce or move operations, but the Bank of New York conversion was completed in a little over 48 hours.

The acquisition of the 62 Barclays branches, effective Dec. 11, brought Bank of New York's total to 291. Bank officials said they expected more than $38 million of annual savings.

Some Staff Cuts Made

Bank of New York made job offers to about 800 Barclays employees and ended up keeping about 720. Neither Barclays nor Bank of New York would disclose how many people had been employed in the branches before the merger.

Bank of New York converted 250,000 accounts for 132,000 Barclays customers. On Monday, Dec. 14, all the Barclays branches opened as Bank of New York offices.

Bank of New York officials said their experience in quickly merging the Irving Trust Co. and Bank of New York systems enabled them to convert the Barclays operation in two days.

Some Trucks Stranded

The advantage to fast conversion, said Richard D. Field, senior executive vice president, branch banking: "We immediately made available all products to our customers, without forcing them to wait a single business day. And we could immediately maximize the cost efficiencies from eliminating one technology infrastructure. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Bank of N.Y. Does a Quick Change: Converts Data for Acquired Barclays Units in 2 Days
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.