BNY Mellon has been chosen by the City of Phoenix Employees' Retirement System (COPERS) to provide custody, accounting, and securities lending solutions to plan assets valued at $2 billion.
"BNY Mellon's commitment to quality service and status as a recognised market leader were key elements in our decision to appoint them as our new custodian," said Greg Fitchet, investment officer at City of Phoenix Employees' Retirement System.
"In addition, a number of capabilities offered by its Workbench platform will significantly improve our efficiency in the area of document handling. BNY Mellon will be a strong partner for us as we look to fulfill our strategic goals going forward."
"This appointment attests to our ability to deliver a comprehensive package of innovative investment services to large plan sponsors," said Samir Pandiri, executive vice president and global head of asset servicing at BNY Mellon.
"We look forward to working closely with COPERS and delivering unmatched support across every phase of our relationship."
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