BNY Mellon Named Global Custodian for $12 Billion Employees' Retirement System of the State of Hawaii
NEW YORK, Oct. 10, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, announced that it has been named global custodian by the Employees' Retirement System of the State of Hawaii (HIERS), encompassing more than $12.3 billion in pension fund assets. BNY Mellon will provide global custody, securities lending, foreign exchange, cash management, and a wide range of global risk solutions services to HIERS.
HIERS provides retirement, disability, survivor, and other benefits to more than 112,000 members. Its membership is comprised of retirees, beneficiaries, inactive vested members, and active public employees working for the State of Hawaii and its counties.
"BNY Mellon is a market leader whose team can help us implement best practices that enable us to be more efficient," said Wesley Machida, HIERS executive director. "This appointment extends our existing relationship with BNY Mellon's investment management and corporate trust businesses. As global custodian, we'll get a partner with a robust set of products we can leverage both now, such as securities lending, and in the future."
"Our relationship with HIERS is a stellar example of how BNY Mellon can deliver a total package of investment services from across the company to large plan sponsors," said Samir Pandiri, executive vice president and CEO of Asset Servicing at BNY Mellon. "We'll continue to work closely with HEIRS to support their needs in managing and administering their pension fund assets."
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2013, BNY Mellon had $26.2 trillion in assets under custody and/or administration, and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more on www.bnymellon.com, or follow us on Twitter @BNYMellon.
Joseph F. Ailinger Jr.
SOURCE BNY Mellon
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