The Bank of New York Company, Inc. has been reappointed as master custodian and securities lending agent for the Alaska Permanent Fund, a public trust created for the citizens of the State of Alaska with a current market value of $30 billion, according to the bank. The Bank of New York also provides risk management services to the fund.
“The bank was reappointed because of its client-oriented service, commitment to technology and their dedication to the specific needs of the fund,” Chris Phillips, director of Finance of the Alaska Permanent Fund Corporation, said.
Patrick E. Curtin, executive vice president, The Bank of New York, said, “This reappointment reflects our focus on understanding the evolving needs of the Alaska Permanent Fund. We work closely with their team to ensure that we deliver an integrated suite of services including custody, securities lending and cash management. In addition, our industry-leading risk management services ensure that the Fund has access to the data that help them evaluate and reconcile their performance.”