Press Release
Mellon Awarded $113 Billion Master Custody Account by the State Board of Administration of Florida, the Nation's Fourth Largest Public Retirement System
BOSTON, August 16, 2005 — Mellon Financial Corporation announced that its Mellon Global Securities Services (GSS) group has been named master custodian for $113 billion in public funds administered by the State Board of Administration of Florida (SBA). Mellon will provide global custody and securities lending services, and its Russell/Mellon affiliate will supply performance measurement and analytics.
SBA is the fourth largest public retirement system in the country, overseeing several state funds, the largest being the Florida Retirement System Trust Fund, which serves more than 850,000 members ranging from state government workers and public school teachers to local public safety officers, firefighters and their beneficiaries.
"We are proud to be building on a relationship that began two years ago when SBA selected Eagle Investment Systems, a Mellon subsidiary, for its suite of investment management software solutions," said Jim Palermo, Mellon vice chairman and president of Mellon GSS. "We work constantly to refine the asset servicing products and platforms that clients like SBA rely on to make informed decisions on behalf of plan participants and to safeguard their financial future."
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 institutional asset management, mutual funds, private wealth management, asset servicing, payment solutions and investor services, and treasury services. Mellon has approximately $4.2 trillion in assets under management, administration or custody, including
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