NETHERLANDS - Shell Asset Management (SAMCo) has appointed JPMorgan to provide pooled asset servicing for its pension funds.
Under the terms of the deal, JPMorgan would take responsibility for fund accounting, administration and some securities lending from segregated or pooled funds.
Francis Jackson, head of EMEA business development and relationship management, JPMorgan Investor Services, said: "We call this deal 'landmark' because we believe it to be one of the most sophisticated asset pooling structures in the market to date. It also underlines our strategic commitment to the pensions industry on a global scale.
"Our strategy of global reach coupled with local delivery allows us to offer a differentiated pooling service that combines enhanced risk management and governance with greater efficiencies," Jackson continued.
John Gout, head of Netherlands business development and relationship management, JPMorgan Investor Services said the deal gave the firm increased momentum in the country's market.
Gout added: "Our Dutch business continues to be a focus for the firm and we anticipate continued strong growth in the coming years."
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