BNY Mellon Wins Custody Mandate From City of Phoenix

BNY Mellon has been selected by the City of Phoenix Employees’ Retirement System (COPERS) to provide custody, accounting, and securities lending solutions for the $2 billion plan.
By Jake Safane(2147484770)
BNY Mellon has been selected by the City of Phoenix Employees’ Retirement System (COPERS) to provide custody, accounting, and securities lending solutions for the $2 billion plan.

COPERS considered BNY Mellon and the plan’s previous custodian, State Street, before making the final decision.

“BNY Mellon’s commitment to quality service and status as a recognized market leader were key elements in our decision to appoint them as our new custodian,” says Greg Fitchet, investment officer at City of Phoenix Employees’ Retirement System. “In addition, a number of capabilities offered by its Workbench platform will significantly improve our efficiency in the area of document handling. BNY Mellon will be a strong partner for us as we look to fulfill our strategic goals going forward.”

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