BNY Mellon has extended its contract to provide custody banking services to the Virginia Retirement System (VRS). The renewed contract will last for five years with an option of extending for another five-year period.
Custody banking services provided to VRS include, custody, performance and risk, securities lending and FX services.
“BNY Mellon has been a partner with us for many years and we look forward to working with them to continue to provide a variety of custody banking services on terms favorable to our members,” said VRS director, Bob Schultze.
Vince Stands, executive vice president and deputy CEO of BNY Mellon Asset Servicing, said: “We are very pleased to continue our long-standing relationship with the VRS.”
“We remain committed to providing the VRS with best-in-class custody banking services that are important tools for their investment professionals as they seek to create value for their members.”
