NETHERLANDS - PGGM has hired Kas Bank as custodian for a portion of the European securities portfolio it manages on behalf of Pensioenfonds Zorg en Welzijn (PFZW).
Kas spokesman Michiel Janssen said the firm was hired in December - but he declined to provide the value of the assets under administration.
Chris Ypma, spokeswoman for at PGGM, could not provide further details.
The two companies already have an existing relationship. Janssen said Kas has provided banking services for the personal savings scheme offered to PFZW's participants.
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