Smithfield Foods Names BNY Mellon as Custodian for Employee Defined Benefit Plan
Smithfield Foods, a US$13bn global food company, has named BNY Mellon as custodian for the company’s employee defined benefit plan. The plan currently has more than US$1bn in assets under administration. BNY Mellon Asset Servicing will provide custody, accounting, performance measurement, and benefit disbursement services.
“BNY Mellon’s highly developed technology solutions and responsive client service staff will allow us to better serve our thousands of employees and retirees around the country,” said Tim Dykstra, vice president and treasurer of Smithfield Foods.