The Bank of New York Company says its subsidiary, BNY Western Trust Company, has been reappointed as custodian for the City of Sacramento’s $1.1 billion operating and retirement funds. The Company has been providing custody and securities lending services to the city since 1995.
“After a comprehensive review of our needs, it was clear that BNY Western Trust continues to offer the customized services and information delivery systems we need to achieve our revenue projections,” explains Thomas Friery, Sacramento City Treasurer. “We look forward to continuing our long-standing and satisfactory relationship with the Bank.”
BNY Western Trust Company provides institutional investor services to public funds in the western United States, and has a strong presence in California. It will continue to service the City of Sacramento from its San Francisco office.
“We have a strong track record of delivering high quality service to the City of Sacramento, and our advanced technology platform enables us to provide the customized services the City requires,” says Keith N. Kuhn, Head of BNY Western Trust Company. “In addition, the City will continue to benefit from our securities lending expertise as we build on this mutually beneficial relationship.”