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...
Pat Sharman believes traditional custodians are not serving UK pension funds well and argues it could be time to shift towards the Dutch approach.
The Bank of New York (BNY) Mellon has been fined £126m by the Financial Conduct Authority for serious failures to safeguard clients' assets.
Cambridge and Northamptonshire local government pension schemes (LGPS) have appointed Northern Trust to act as custodian of their £4bn of assets.
The Financial Services Authority is investigating State Street over allegations it overcharged some of the UK's biggest pension schemes according to the Financial Times.
Middlesbrough Council has appointed BNP Paribas to act as custodian for the £2.5bn Teesside Pension Fund.