UK - Bank of New York vice president Sophie Jelleff has resigned after little more than a year with the securities services specialist.

Jelleff left at the end of last week. She was initially a freelance consultant before joining the Bank of New York’s corporate development team.

There is currently no replacement, but spokesman Ivan Royle said that they will soon be looking internally, and if needs be externally, to fill the post.

The bank’s assets under custody increased 18% in the second quarter of 2005 to $10.3trn (€8.4trn). Net income also rose over the past year by $27m to $398m.

August has been busy for the bank. Last week it entered a global custody agreement worth £164bn with the Nordic financial services firm, Nordea.

It was also awarded a £650m custody mandate by main UK scheme, the Reuters Pension Fund, following a revamp.

Earlier this month, it replaced JP Morgan Chase as custodian of the £230m ICI Speciality Chemicals Pension Fund – set up following its purchase in 1997 of a speciality chemical division from Unilever.