UK - Royal County of Berkshire's Pension Fund has re-appointed HSBC Bank Global Investor Services as custodian to assets worth £800m.
HSBC’s re-appointment followed an evaluation process by the client, prompted by the expiry of their fixed term contract, HSBC said.
Mike Martin, head of Global Investor Services said, “The UK is an important client market within our overall European proposition. Our re-appointment by Royal County of Berkshire demonstrates both HSBC’s ability to build and develop long term relationships with clients and the value they place on quality service”.
Jack Johnson, pension fund manager for the Royal County of Berkshire said, “We are pleased to continue our global custody arrangements with HSBC and look forward to building upon our existing working relationship”.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point