BNY Mellon has been chosen by the Wichita, Kansas Retirement Systems (WRS) to provide global custody and securities lending services for its $1.2 billion assets under management.
The mandate will also include accounting and reporting, compliance monitoring, benefit disbursements, and cash sweep services.
“Wichita Retirement Systems selected BNY Mellon to provide custody services, due to their unmatched level of understanding of Public Funds relevant in today’s market. We look forward to partnering with their experienced specialists that are focused on relationship-building and client satisfaction,” said Pam Beim, Wichita Retirement Systems pension manager.
WRS provides retirement and survivor annuities, disability benefits, death benefits, and other benefits for the public employees and retirees of Wichita, Kansas.
BNY Mellon is one of the main asset servicing providers for mid-Western funds, including the State of Wisconsin Investment Board , which manages more than $115 billion of assets.
“Our unmatched servicing team, technology, stable balance sheet, and industry expertise will help them achieve their investment goals, so the people of Wichita can receive their pension benefits,” said Dan Smith, head of BNY Mellon’s asset servicing business in the Americas.
BNY Mellon wins custody, sec lending mandate for Wichita pension fund
The mandate will also include accounting and reporting, compliance monitoring, benefit disbursements, and cash sweep services.
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