Massachusetts Pension Reserves Investment Management board, Boston, rehired Bank of New York Mellon as global custodian for the $37.8 billion fund.
MassPRIMs staff evaluated BNY Mellon as well as Northern Trust and State Street Corp., which were the three qualifying respondents to the RFP the fund issued in October, and found no compelling reason to change custodians, according to documents distributed at the boards meeting Tuesday.
BNY Mellons new five-year contract will begin July 1.