Kentucky Retirement Systems picks BNY Mellon for securities lending
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Kentucky Retirement Systems picks BNY Mellon for securities lending 18 July 2017Kentucky Reporter: Drew Nicol
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BNY Mellon is set to provide securities lending services for Kentucky Retirement Systems (KRS), a major US public retirement fund and longstanding participant in the securities lending market.
The bank stated that the addition of this latest mandate further enhances its position as the world’s largest securities lending agent.
“Kentucky Retirement Systems is delighted to have partnered with BNY Mellon as provider for all our securities lending needs,” says Richard Robben, interim chief investment officer at KRS.
“The depth and breadth of their platform, coupled with their financial strength, make them the perfect partner for our pension funds.”
Bill Kelly, head of securities lending agent programme for BNY Mellon, added: “We are very appreciative of the confidence that KRS has shown in expanding its relationship with BNY Mellon through our ability to customise a securities finance solution that meets both their performance and risk objectives.”
“We look forward to a long and active partnership with KRS.”
In a statement on the mandate win, a BNY Mellon spokesperson said: “Trusted with more than 20 percent of the world’s investable assets, BNY Mellon’s aerial view of the marketplace provides our clients with the perspective to better meet their securities lending, financing and collateral needs.”
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