Dutch custody mandate win for BNP Paribas 06 December 2017Amsterdam Reporter: Stephanie Palmer
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BNP Paribas Securities Services has been selected as global custodian for Ahold Pensioenfonds, the €4.5 billion pension fund of Dutch supermarket group Ahold Delhaize.
As well as custody services, BNP Paribas will provide investment accounting, compliance services, regulatory reporting, performance measurement and risk reporting. The mandate is effective from 1 January 2018
According to BNP Paribas, the mandate is further development in its securities services offering in the Netherlands, following the acquisition of an asset administration platform in the country earlier this year.
John de Waal, senior director of finance and risk at Ahold Pensioenfonds, said: “After an extensive selection process we selected BNP Paribas Securities Services as our new custodian. BNP Paribas Securities Services offers local services tailored to our needs and requirements, supported by a solid global custody organisation.”
Robert van Kerkhoff, head of BNP Paribas Securities Services in the Netherlands, added: “We are delighted to welcome Ahold Pensioenfonds as a client. This mandate win underlines our growing strengths in the Dutch institutional market and our ability to deliver operational innovation and service quality to major institutional investors in the Netherlands.”
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