UK - ABN Amro Mellon has appointed Peter Adams to head its European sales division which targets the pensions, asset management, charities and local authority markets.
Adams, who was previously managing director of State Street’s Edinburgh-based investment performance and analytics business WM Co., will report to chief commercial officer Paulo Sousa.
“Peter is a seasoned authority in the finance industry, bringing with him over 15 years of experience,” Sousa said, adding Adams’ management experience would provide “sound support” to the commercial division of ABN Amro Mellon.
He said: ”Peter’s remit will be to help us continue to meet our growth objectives and to provide insight and ideas towards progressing our successful model.”
Adams commented he was “delighted” to be taking up the role. Nadine Chakar, chief executive officer of ABN Amro Mellon said in a statement that the incorporated bank had quadrupled in size since its inception.
State Street appointed Adams’ successor, Michael Walsh, last November.
At the same time, State Street Corp. announced that the Weir Group’s 400 million-pound pension fund had awarded it a global custody, fund accounting, foreign exchange and cash management services mandate.
Group pensions manager for the Weir Group, Philip Batty, told IPE that so far the fund had not had its own custodian and before choosing State Street it had considered three candidates, including the winner. The scheme took advice from Mercer.
State Street also said that WM is to extend its provision of performance measurement services to the entire fund.
“After a competitive selection process, we appointed State Street as custodian because of its expertise in servicing U.K. pension funds,” said Batty.
“The opportunity to take advantage of State Street’s value-added services in the future was another factor in our decision,” he continued.