BNY Mellon strikes deal with Croydon Fund 27 February 2014London Reporter: Stephen Durham
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BNY Mellon has been reappointed by the London Borough of Croydon Pension Fund to provide custody, fund administration and cash management services to assets valued at £668 million.
Hani Kablawi, head of asset servicing in Europe, the Middle East and Africa at BNY Mellon, commented: “We have established a strong and productive relationship with the Borough of Croydon and we look forward to building on that going forward. At BNY Mellon we have continued to develop and refine our offering for pension funds in the UK as well as Continental Europe to ensure they have the comprehensive and value-for-money suite of solutions that addresses their evolving needs around asset safety, cash management, fund accounting and risk mitigation.”
Head of pensions and treasury at the Pension Fund, Nigel Cook, said: "The strength of BNY Mellon’s service offering and the depth of the team’s expertise were clearly demonstrated during the extensive benchmarking exercise we have recently undertaken in association with Amaces.”
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