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.
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.