Comerica ousts BNY Mellon as custodian of Graybar Electric
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Comerica ousts BNY Mellon as custodian of Graybar Electric 31 January 2013St Louis Reporter: Georgina Lavers
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St. Louis-based Graybar Electric Company has chosen Comerica Bank and ousted BNY Mellon as global custodian and trustee of its $400 million defined benefit plan.
Graybar is led by chairman, president and CEO Kathleen Mazzarella. A distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported net sales of $1.4 billion for the third quarter of 2012, a decrease of 4.7 percent compared to the same period in 2011.
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