NETHERLANDS - Dutch pension fund Stichting Pensioenfonds SABIC Innovative Plastics has appointed State Street Corporation to provide custody and other services for its €700m ($970m) in assets.
State Street will provide custody, accounting, monthly performance measurement and currency overlay services. The firm has provided investment analytic services to the fund since 1991.
SABIC managing director Arthur Smit said: "State Street was able to support our pension assets with a wide range of comprehensive investment servicing solutions. When we sought a new partner for these additional services, State Street emerged as the strongest provider."
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers