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Cristina McEachern
Cristina McEachern
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BNY Purchases MAVRICC Assets

BNY purchases assets of MAVRICC.

The Bank of New York (BNY) has purchased certain assets of MAVRICC Management Systems, Inc., a provider of employee stock plan and equity-based compensation plan services. The acquisition should enhance BNY's existing stock purchase and stock option plan capabilities, as well as provide transfer agency services for direct investment partnerships. Additionally, BNY plans to release an enhanced version of its employee investment plan website that will include new transactional capabilities. Participants will be able to sell shares, request a certificate or request a transfer of shares. Users will also be able to view their transaction history on-line.

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