The Employees Retirement System of Texas (ERS of Texas) has awarded securities lending services mandate to Deutsche Bank. Agency lending is part of Deutsche Bank’s trust and securities services division, which also offers custody, clearing and related services in more than 30 securities markets globally.
ERS offers a retirement and disability pension system for Texas state employees, law enforcement and custodial officers, elected state officials and two classes of judges. It is one of the world’s largest retirement systems in the U.S. ERS, which has $22 billion in assets under management, has engaged a non-custodial (third-party) agent for the first ti me.
Click here for the release from Business Wire.