NEW YORK, June 11, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been named custodian for the roughly $1 billion Employees' Retirement System of the City of Baton Rouge and Parish of East Baton Rouge, Louisiana. BNY Mellon Asset Servicing will provide custody and administration, accounting, and cash management services.
"BNY Mellon's level of quality and attention to client service was apparent throughout the custodian bidding process," said Jeff Yates, retirement administrator for the City of Baton Rouge. "We're confident in their ability to help us effectively manage and administer system assets for the benefit of our many active employees and retirees."
"We look forward to working with the City of Baton Rouge and developing this new relationship," said Samir Pandiri, executive vice president and head of Asset Servicing-Americas at BNY Mellon. "In today's more complex and regulated environment, municipal employee systems like Baton Rouge rely on us for a wide array of securities services as well as the technology infrastructure that allow them to focus on investment management."
The Employees' Retirement System of the City of Baton Rouge - Parish of East Baton Rouge is a public employees' defined benefit pension plan covering 3,500 active and 3,400 retired members. Created in 1953, the plan provides lifetime pension benefits to both non-public safety and public safety employees of the combined City-Parish government.
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on [email protected].
SOURCE BNY Mellon