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Duke taps manager – Mellon wins competition

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Duke University’s $4.2 billion endowment fund, pension plan and other investments have been placed in custody with Mellon Trust’s Global Securities Services group.

Mellon will provide the university with custody and short-term management services, performance measurement and analytics.

“We’re extremely pleased that Duke has chosen Mellon Trust from a large group of competitors as its custody provider,” Global Securities Services head Jim Palermo said.  “We welcome the opportunity to work with such a highly-regarded and prestigious institution.”

Mellon Trust’s Global Securities Services group, which is part of Mellon Financial Corporation, currently administers more than $2.3 trillion worldwide.

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