BNY Mellon Asset Servicing, the global provider of securities services, has been selected by Geary Advisors, to provide custody, fund administration, fund accounting and transfer agency services for the Oklahoma Exchange-Traded Fund and the Texas Large Companies Exchange-Traded Fund, the first two exchanged-traded funds (ETFs) to focus on businesses in specific states. Geary Advisors, a part of The Geary Companies, is the investment advisor for both ETFs.
Keith Geary, chairman of The Geary Companies, said: “We are impressed with the high quality of the services that BNY Mellon provides for ETFs. BNY Mellon is providing us with customized services that enable us to offer these targeted, innovative ETFs to the investment community.”
Joseph Keenan, managing director and head of relationship management for financial services companies at BNY Mellon Asset Servicing, said: “We are seeing heightened interest in ETFs, as investors demand a cost-effective method to target an increasing number of market niches. We are investing in the technology required to deliver ETFs that are easily scaleable for both active and passive investors.”
