Jacksonville hires Mellon for global custody

City of Jacksonville (Fla.) Retirement System hired Mellon Financial as global custodian of its $2.5 billion in assets, confirmed Mellon spokesman Mike Dunn. Mellon will also provide the fund with performance and analytics measurement services, as well as foreign exchange and securities lending services. Michael Givens, city treasurer, did not return calls seeking more details. The fund’s previous custodian was Northern Trust Global Investments, according to the Money Market Directory.