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BNY Mellon wins US pension mandate
12 June 2012
BNY Mellon has beaten other custodians to be selected by a $1bn public pension plan in Louisiana
BNY Mellon has picked up a $1bn custody mandate from the Employees’ Retirement System of the City of Baton Rouge and Parish of East Baton Rouge of the US state Louisiana.
The custodian will also provide administration, accounting and cash management services.
Jeff Yates, retirement administrator for the City of Baton Rouge, said BNY Mellon’s level of quality and attention to client service stood out during the bidding process.
The pension system is a defined benefit plan which covers 3,500 active and 3,400 retired members.