BNY Mellon Extends Custody Banking Relationship with Virginia Retirement System
NEW YORK, Nov. 8, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, today announced that it has renewed its contract to provide custody banking services to the Virginia Retirement System ("VRS"). The contract extends the current relationship between BNY Mellon and VRS for five years with an option to renew for another five-year period.
BNY Mellon will continue to provide VRS with custody, performance and risk, securities lending and foreign exchange services.
"BNY Mellon has been a partner with us for many years and we look forward to working with them to continue to provide a variety of custody banking services on terms favorable to our members," said Bob Schultze, VRS Director.
"We are very pleased to continue our long-standing relationship with the Virginia Retirement System," said Vince Sands, executive vice president and deputy CEO of BNY Mellon Asset Servicing. "We remain committed to providing the Virginia Retirement System with best-in-class custody banking services that are important tools for their investment professionals as they seek to create value for their members."
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.
SOURCE BNY Mellon