Nebraska Investment Council selects MUFG Investor Services’ GSLS
10 September 2024 US
Image: adragan/stock.adobe.com
MUFG Investor Services’ Global Securities Lending Solutions (GSLS) group has been selected by the Nebraska Investment Council (NIC) for securities lending services.
The NIC is an independent state agency based in Lincoln, Nebraska. It determines and manages approximately US$40 billion of investments across 32 different entities.
Its core mission is to manage the funds entrusted by the people in the state of Nebraska.
In 2023, the NIC was involved in a request for proposal (RFP) project with AON, to create a successful custodian and securities lending agent RFP.
Aon collected data from State Street surrounding the services, fees and securities lending details provided to the NIC.
From this, Northern Trust was elected as custodian for the NIC, where it would then provide asset management and asset servicing solutions, including custody and portfolio analytics for its pension fund, and MUFG was selected for third party securities lending.
Anthony Toscano, head of GSLS in the Americas at MUFG Investor Services, says: “We are extremely pleased to have been selected by the Nebraska Investment Council, which has been a long-time participant in the securities lending market.
“In Nebraska, we are excited to have a new client who seeks a more personalised and customised approach to their securities lending programme.”
The NIC is an independent state agency based in Lincoln, Nebraska. It determines and manages approximately US$40 billion of investments across 32 different entities.
Its core mission is to manage the funds entrusted by the people in the state of Nebraska.
In 2023, the NIC was involved in a request for proposal (RFP) project with AON, to create a successful custodian and securities lending agent RFP.
Aon collected data from State Street surrounding the services, fees and securities lending details provided to the NIC.
From this, Northern Trust was elected as custodian for the NIC, where it would then provide asset management and asset servicing solutions, including custody and portfolio analytics for its pension fund, and MUFG was selected for third party securities lending.
Anthony Toscano, head of GSLS in the Americas at MUFG Investor Services, says: “We are extremely pleased to have been selected by the Nebraska Investment Council, which has been a long-time participant in the securities lending market.
“In Nebraska, we are excited to have a new client who seeks a more personalised and customised approach to their securities lending programme.”
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