BNY Mellon reselected by AP7 for global custody 13 October 2020 Brussels Reporter: Maddie Saghir
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BNY Mellon has been reappointed by the Swedish state pension fund Sjunde AP-fonden (AP7) to provide global custody and associated services, continuing a 14-year relationship.
AP7 is a Swedish government agency and the state alternative to the private investment funds offered within the Swedish premium pension system.
BNY Mellon was selected following a detailed public procurement process that started in March last year, AP7 explained.
Commenting on the reappointment, Leonique van Houwelingen, CEO of BNY Mellon's European bank, BNY Mellon SA/NV, said: “We value our long standing relationship with AP7 and are excited to continue our partnership at a significant point in their evolution.”
Houwelingen explained: “Our aim is to deliver digital custody and data solutions that enable frictionless integration across the full investment lifecycle, underpinned by a resilient, transparent and efficient operating model that enables AP7 to focus on their growth and servicing their customer base."
Tina Nylund, chief operating officer at AP7, commented: “We are happy to have again reappointed BNY Mellon as our global custodian. AP7 is facing significant growth and change. BNY Mellon met all our requirements and will be able to further support our successful transition to a new operating model. We look forward to further strengthening and enhancing our relationship with a partner that has the digital and data capabilities to help us on our own digital transformation journey.”
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