Graybar Electric plugs into Comerica for global custody

Graybar Electric Co. Inc., St. Louis, hired Comerica Bank as global custodian and trustee of its $400 million defined benefit plan, confirmed Rodney Schreckenberg, treasury manager.

Comerica replaces Bank of New York Mellon (BK). Mr. Schreckenberg said in a telephone interview the change was made because of other business the company has with Comerica.