Massachusetts Pension Reserves Investment Management board, Boston, rehired Bank of New York Mellon as global custodian for the $37.8 billion fund.
MassPRIM’s 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 board’s meeting Tuesday.
BNY Mellon’s new five-year contract will begin July 1.
