BNY Brokerage Hires Depend on Growth

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Bank of New York's move to expand its brokerage operations in New England could lead to more hires down the road if the business develops the way a top BNY exec hopes.

Carey S. Pack, president of BNY Brokerage, told that the addition of a sales trading desk, announced last week, provides sales people for all of the unit's products in the region, which he described as "strategically important to us."

Richard Collett, Kevin McCarthy and Mark Guarente comprise the new sales trading group. Pack said the three "have a mandate to develop the business" and more resources could be added if the business grows. "If we need to make additions, we will," Pack says.

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