OLYMPIA, Wash. - Bank of New York Co. has received a custodial contract from Washington State for about $25 billion in investments, the Office of the Treasurer said.

Of the $25 billion, the State Investment Board is responsible for $17 billion in state retirement funds and an industrial insurance trust of more than $4 billion. The remaining $4 billion comes from assets managed by the treasurer's office.

The office said the state board has a goal of placing 5% of the $17 billion in pension funds in the global market.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.