Wisconsin Investment Board Extends Agreement With Mellon Financial to Provide Global Custody Services for $95 Billion Fund
June 18 2007 - 8:12AM
PR Newswire (US)
BOSTON, June 18 /PRNewswire-FirstCall/ -- Mellon Financial
Corporation (NYSE:MEL) announced that its Asset Servicing group has
extended its 16-year relationship with the State of Wisconsin
Investment Board (SWIB) to provide global custody, accounting,
performance and analytics, securities lending, and foreign exchange
for $89 billion in trust funds for the Wisconsin Retirement System
(WRS) as well as an additional $6 billion in the state investment
fund assets. The WRS provides retirement benefits for more than
533,000 current and former employees of state agencies, the
university system, school districts and most local governments. It
is the ninth largest US public pension plan and the 24th largest
pension fund in the world. "Mellon Financial has provided us with
top-notch service for 16 years," said Gail Hanson, interim
executive director of SWIB. "During that period, Mellon has
continued to develop products, technology and customer service to
meet our evolving needs." "We are extremely pleased that the State
of Wisconsin appreciates the support we have provided for its
retirement system," said James P. Palermo, Mellon vice chairman and
head of asset servicing. "We continue to build and enhance our
technology so we can provide the State of Wisconsin with the
resources required to pursue a wide range of investment strategies
now and in the future." 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 of Mellon Financial Corporation,
+1-212-922-7859, Web site: http://www.mellon.com/
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