New Mexico Educational Retirement Board selected State Street as global custodian, said Bob Jacksha, chief investment officer for the $10.4 billion Santa Fe-based pension fund, in an e-mail.
State Street will begin its new role July 1, 2014.
The investment committee had selected Bank of New York Mellon and State Street as finalists following an RFP that was issued in October. The incumbent was J.P. Morgan.