Mellon Financial Corporation says its Asset Servicing group (this group is comprised of Eagle Investment Systems, DPM Mellon, Mellon Analytical Solutions, and its joint venture partnerships – ABN AMRO Mellon and CIBC Mellon) has been selected by the state of North Carolina to provide global custody, foreign exchange and performance analytics for $75 billion in tax-exempt assets, most of which are in seven state-sponsored pension plans.
These defined benefit retirement plans, which combined represent the seventh largest plan in the United States, cover more than 700,000 active and retired employees including teachers; state employees; local government workers; judges, state legislators and employees in the judicial and legislative branch of the state government; the North Carolina National Guard; firemen; and rescue squad workers, according to a Mellon press release.