Lynde and Harry Bradley Foundation, Milwaukee, hired BNY Mellon Asset Servicing as global custodian and to provide asset management services, confirmed BNY Mellon spokesman Joe Ailinger.
The firm will also provide accounting services, and performance and risk analytics for the $600 million foundation. BNY Mellon also will provide asset management services through its Mellon Capital Management affiliate and additional support through its treasury services business. Mr. Ailinger said in an e-mailed response to questions that the term of the custody contract is renewable on an annual basis. He declined to disclose the assets under management on the Mellon Capital mandate.
Cynthia K. Friauf, vice president for finance at the Bradley Foundation, could notimmediately be reached for comment.