The UK Syngenta Pension Scheme has appointed the Bank of New York to a £650m custody and investment accounting mandate.
BoNY fought off competition from Deutsche Bank, Northern Trust and incumbent custodian JP Morgan Investment Services, IPN understands.
The appointment follows BoNY’s appointment to the new £300m investment accounting, monitoring and global custody mandate from the Laporte Group Pension Trust and is believed to bring the custodian’s total wins in 2001 to 14.
A BoNY spokesman confirmed the new win and said: “This mandate win is fresh recognition of our continuing committment to providing world-class services to the UK pensions sector.”
BoNY is understood to be currently tendering for several further briefs with more appointments imminent.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.