Saint Joseph's Medical Center in Yonkers, N.Y., hired Bank of New York...

Saint Joseph's Medical Center in Yonkers, N.Y., hired Bank of New York to manage its $5 million in self-insurance fund assets. Previously, the local branch of the bank had been the custodian of the fund, which was managed internally. The bank now has the responsibility of investing the fund's money in short-term instruments, said James Curcuruto, vice president of finance at Saint Joseph's. Bank of New York was chosen based on its longstanding relationship with the medical center, he said