BNY Mellon Asset Servicing has been named custodian for $1.9 billion in retirement and health system funds administered by Catholic Health East.
BNY Mellon Asset Servicing will provide domestic and global custody, cash management, and securities lending services.
“BNY Mellon’s reputation for superior client service and technology, as well as the breadth of its securities lending capabilities, made it the clear choice for us,” says Paul Klinck, vice president of Treasury Services, Catholic Health East.
“We are pleased to be supporting Catholic Health East and its many employees. Our relationship with Catholic Health East, one of the largest healthcare systems on the East Coast, will enable us to provide the custody, cash management and securities services that companies look for to enhance operational efficiency in managing employee pension plans,” adds Vince Sands, executive vice president of BNY Mellon Asset Servicing.
Based in Newtown Square, Pennsylvania, Catholic Health East is a multi-institutional Catholic health system located within 11 eastern states from Maine to Florida.
The system includes 33 acute care hospitals, four long term acute care hospitals, 36 freestanding and hospital-based long term care facilities, 12 assisted living facilities, five continuing care retirement communities, seven behavioral health and rehabilitation facilities, 25 home health and hospice agencies, and numerous ambulatory and community-based health services. Catholic Health East facilities employ approximately 50,000 full-time employees as partners in ministry.