BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected by Geary Advisors, LLC to provide custody, fund administration, fund accounting and transfer agency services for the Oklahoma Exchange-Traded Fund (NYSE Arca: OOK) and the Texas Large Companies Exchange-Traded Fund (NYSE Arca: TXF), the first two exchanged-traded funds (ETFs) to focus on businesses in specific states.
Geary Advisors, LLC, part of The Geary Companies Inc., is the investment advisor for both ETFs. “We are impressed with the high quality of the services that BNY Mellon provides for ETFs,” said Keith Geary, chairman of The Geary Companies. “BNY Mellon is providing us with customized services that enable us to offer these targeted, innovative ETFs to the investment community.”
“We are seeing heightened interest in ETFs, as investors demand a cost-effective method to target an increasing number of market niches,” said Joseph Keenan, managing director and head of relationship management for financial services companies at BNY Mellon Asset Servicing. “We are investing in the technology required to deliver ETFs that are easily scaleable for both active and passive investors.”
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.1 trillion in assets under custody and administration and $966 billion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Additional information is available at www.bnymellon.com.
SOURCE BNY Mellon
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