NEW YORK, May 31, 2012 — BNY Mellon, the global leader in investment management and investment services, has been named custodian for Smithfield Foods' employee defined benefit plan. The plan currently has more than $1 billion 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.
"We look forward to supporting Smithfield Foods in this new mandate," said Samir Pandiri, executive vice president and head of Asset Servicing-Americas at BNY Mellon. "As always, we'll work hard to deliver the information, performance metrics, and related services Smithfield requires to make informed decisions in managing their employee DB plan."
Smithfield Foods is a $13 billion global food company and the world's largest pork processor and hog producer. In the United States, the company is also the leader in numerous packaged meats categories with popular brands including Farmland®, Smithfield®, Eckrich®, Armour® and John Morrell®. Smithfield Foods is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental, and food safety and quality programs. For more information, visit www.smithfieldfoods.com and www.smithfieldcommitments.com.
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 a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on Twitter@BNYMellon.