City of Jacksonville Selects Mellon Financial to Provide Custody for $2.5 Billion in Pension Fund Assets
31 Maggio 2007 - 3:19PM
PR Newswire (US)
BOSTON, May 31 /PRNewswire-FirstCall/ -- Mellon Financial
Corporation (NYSE:MEL) announced that its Asset Servicing group
will provide global custody, performance and analytics measurement,
foreign exchange, and securities lending for the City of
Jacksonville's pension funds for city employees and correctional
officers. The combined assets of the funds are approximately $2.5
billion. "We have selected Mellon Financial as our custodian
because of its experience in servicing public funds, its reputation
for delivering award-winning client service, and its consistent
commitment to investing in technology and new product development,"
said Michael Givens, treasurer for the City of Jacksonville.
"Mellon is providing customized systems that have the flexibility
to meet our own specific needs." "We remain committed to delivering
exceptional services for public funds," said Vince Sands, executive
vice president of Mellon Financial and president of Mellon's U.S.
Trust Services. "This is the second major announcement this month
regarding public funds that have chosen Mellon as the custodian."
Earlier this month, Mellon announced that it had been named global
custodian for $75 billion in tax exempt assets for the State of
North Carolina. Mellon's Asset Servicing group provides
solution-oriented service and tools to support the entire
investment process for public and private pension funds, investment
managers, endowments and foundations, mutual funds, insurance and
other financial institutions. The Asset Servicing group is
comprised of Eagle Investment Systems, DPM Mellon, Mellon
Analytical Solutions, and its joint venture partnerships - ABN AMRO
Mellon and CIBC Mellon. Mellon Financial Corporation is a global
financial services company. Headquartered in Pittsburgh, Mellon is
one of the world's leading providers of financial services for
institutions, corporations and high net worth individuals,
providing asset management, wealth management, asset servicing,
issuer services and treasury services. Mellon has approximately
$5.8 trillion in assets under management, administration or
custody, including $1.034 trillion under management. News and other
information about Mellon is available at http://www.mellon.com/ .
DATASOURCE: Mellon Financial Corporation CONTACT: Mike Dunn,
Corporate Affairs of Mellon Financial Corporation, +1-212-922-7859,
Web site: http://www.mellon.com/
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