The Bank of New York (BNY) announced today that the State of Iowa has chosen the bank to service its financial assets. The Bank will provide compliance reporting, custody, performance measurement, and securities lending for $16 billion in assets for the Iowa Public Employees Retirement System and the Iowa Peace Officers’ Retirement, Accident and Disability System.
“We conducted an exhaustive review of the qualified service providers, which led to the selection of The Bank of New York,” said Mr. Fitzgerald. “The Bank of New York demonstrated a strong understanding of our needs and proposed highly customized solutions.”
“We welcome the State of Iowa and look forward to building a successful long-term relationship,” said Gerald L. Hassell, president of The Bank of New York. “This mandate underscores our ability to provide a full range of sophisticated solutions that add value to our clients’ investment processes.”