UK - ABN AMRO Mellon Global Securities has been hired to provide custody and accounting services for the e1.8bn Kvaerner's UK pension arrangements.
Mellon Financial Corporation has been appointed in a similar capacity for Kvaerner’s US plan.
Nadine Chakar, CEO of ABN AMRO Mellon said, “Sophisticated multinationals such as Kvaerner are seeking new ways to control their global exposure to risk from pensions obligations and to manage asset liability.
“In choosing ABN AMRO Mellon, Kvaerner can rely on consistent reporting and performance measurement across the locations. We are delighted to welcome Kvaerner on board.”
Kvaerner is a global provider of engineering and construction services, technology products and integrated solutions incorporated in Norway, employing over 35,000 staff across 30 countries.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.