-BNY Mellon named global custodian by Kentucky Retirement Systems.
Global Banking News - 04 October 2013
BNY Mellon (NYSE: BK), a bank involved in investment management and investment services, announced that it has been named global custodian by Kentucky Retirement Systems (KRS), encompassing the state's USD14.5bn+ in public employee pension and insurance fund assets.
BNY Mellon will provide global custody, cash management, foreign exchange, private equity administration, and a range of global risk solutions services to KRS.
Kentucky Retirement Systems is responsible for the investment of funds and administration of pension and health insurance benefits for more than 337,000 members. KRS serves active, inactive and retired employees across three state plans, the Kentucky Employees Retirement System of the Commonwealth, County Employees Retirement System for city and county government agencies, and the State Police Retirement System for uniformed state troopers.
'One of the main drivers behind our selection of BNY Mellon was the edge we saw in its technology platform,' said T.J. Carlson, chief investment officer of Kentucky Retirement Systems. 'They've also demonstrated to us they have a team that's both client-focused and solutions oriented.'
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