NETHERLANDS - TKP Pensioen has appointed JPMorgan Investor Services as global custodian to E2.1bn assets.
JPMIS’s mandate will cover provide custody, accounting, compliance monitoring and securities lending.
Commenting on the appointment, Jan Willem Baan, director of investments for TKP, said: [JPMorgan] have a real customer focus, a comprehensive product offering and, very importantly, superior technology,” he said.
“We conducted a lengthy and thorough due diligence before we came to our decision.”
TKP was recently acquired by Dutch insurance giant Aegon Nederland as the latter entered into the larger pension fund administration market. TKP currently services seven pension funds including those of KPN, TPG and the Stichting Postkantoren-Bruna Pensioenfonds.
Ramy Bourgi, business executive for JPMIS EMEA (Europe,Middle East and Africa), said: TKP Pensioen is one of the most respected and innovative Dutch pension fund administrators and we are delighted to be able to deliver the suite of products and customer service that meets their requirements.
Groningen-based TKP was set up by Dutch telecoms company KPN and postal service TPG in 1998. Its activities consist of pension administration, asset management and legal, tax, actuarial and investment consulting.
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