Government pension scheme selects custody provider
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Government pension scheme selects custody provider 06 November 2013London Reporter: Daniel Jackson
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The National Local Government Pension Scheme (LGPS) has appointed BNP Paribas to provide custody services.
The bank was selected as one of six official providers in the procurement framework.
The development opens the door for the bank to the UK LGPS market, which has 102 funds and £180 billion in assets under management.
Annalisa Bicknell, head of sales and relationship management for institutional investors at BNP Paribas UK, said: “We are delighted to have been selected as one of the custody providers for this important segment of the UK pension fund market.”
Last month, BNP Paribas announced that it had won a mandate to provide global custody and valuation reporting services to Oxfordshire County Council’s £1.5 billion pension fund.
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