As per the mandate, BNY Mellon Asset Servicing will offer custody and administration, accounting, and cash management services.
The pension plan covers 3,500 active and 3,400 retired members and provides lifetime pension benefits to both non-public safety and public safety employees of the combined city-parish government.
City of Baton Rouge retirement administrator Jeff Yates said, "BNY Mellon’s level of quality and attention to client service was apparent throughout the custodian bidding process."
BNY Mellon executive vice president and head of Asset Servicing-Americas Samir Pandiri said, "In today’s more complex and regulated environment, municipal employee systems like Baton Rouge rely on us for a wide array of securities services as well as the technology infrastructure that allow them to focus on investment management."
