AIB/BNY Fund Management (Ireland) has been ranked the largest fund administrator in the Republic, according to the latest Fitzrovia review. The company is a joint venture of AIB and The Bank of New York. It moved from second to first place in the Fitzrovia rankings based on assets under administration of $54.6 billion (€60.2 billion) in June 2001, an increase of 77 per cent on the previous year.

Some 220 people are employed by AIB/BNY in Dublin's IFSC. The staff provide a range of fund administration services and value-added services, including global custody, trustee services, credit, cash management, securities lending and collateral management services.

The Fitzrovia review also ranked AIB as the largest trustee of collective investment funds in the Republic, with $41.3 billion of assets under trusteeship, an increase of 30 per cent over last year.