NETHERLANDS - Dutch pension scheme Bpf Meubel has appointed ABN AMRO Mellon Global Securities Services to provide global custody and related services for assets valued at €1.5bn.
The appointment follows a restructuring of the fund. A spokesman told Global Pensions that before the announcement Citibank had been the main custodian.
The mandate's scope includes global custody, investment accounting, Dutch regulatory reporting, online information delivery, performance measurement, attribution, analytics, compliance monitoring and securities lending.
Bpf Meubel is the primary pension scheme in the Netherlands for employees in the furniture and furnishing industry.
Nadine Chakar, CEO at ABN AMRO Mellon, said: “The Netherlands is one of our two ‘home markets’ and our commitment to our Dutch clients remains unwavering."
The FCA and TPR have announced their joint strategy for tackling the key risks facing pensions in the next decade. Victoria Ticha explores the plan and the industry's initial reaction.
GKN has slammed Melrose for making 'misleading' comments relating to the engineering giant's two UK defined benefit (DB) schemes.
UK inflation fell to 2.7% in February 2018 from 3% a month earlier, the Office for National Statistics (ONS) has confirmed, a larger decline than analysts expected.
In the latest in a monthly series of DC columns from Newton Investment Management, Curt Custard warns investors of the possibility of further volatility in the months ahead