Arizona State Retirement System (ASRS) has selected BNY Mellon Asset Servicing to provide services to its ASRS trust fund.
As part of its mandate, BNY Mellon Asset Servicing will provide the trust fund with oversight of core custodial services, alternative assets, overnight investment vehicles, securities lending services, performance analytics and investment compliance monitoring.
The fund serves employees of the state, counties, municipalities, universities, community colleges, school districts, and other political entities.
Established in 1953, with more than 620,000 members and 664 participating employers, the ASRS is Arizona’s primary state agency providing retirement benefits, long-term disability benefits and other employee benefits. qualified state entities.
Commenting on the tenure, Rohan Singh, Global Head of Asset Owners, BNY Mellon Asset Servicing, said: “This announcement is another critical milestone in the growth of our asset servicing business and is a testament to the high level of service that BNY Mellon plans to offer. provide to its customers.
In a statement, the ASRS said, “BNY Mellon has a long-standing reputation as a provider of trust services, and we look forward to a strong and beneficial relationship with them.”