BNY Mellon wins Copers custody mandate

BNY Mellon wins Copers custody mandate

BNY Mellon has been selected by the City of Phoenix Employees' Retirement System (Copers) to provide custody, accounting and securities lending solutions to plan assets valued at $2bn.

“BNY Mellon's commitment to quality service and status as a recognised market leader were key elements in our decision to appoint them as our new custodian,” said Greg Fitchet, investment officer at Copers. “In addition, a number of capabilities offered by its Workbench platform will significantly improve our efficiency in the area of document handling.”

“This appointment attests to our ability to deliver a comprehensive package of innovative investment services to large plan sponsors,” said Samir Pandiri, executive vice president and global head of asset servicing at BNY Mellon.

As of December 31 2013, BNY Mellon had $27.6trn in assets under custody and/or administration and $1.6trn in assets under management.

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