UK – The £1.36bn (e2.17bn) Hertfordshire County Council pension fund has appointed ABN AMRO Mellon Global Securities Services as its global custodian.
Services to be provided in the mandate include core custody, investment accounting and reporting with an option to move into stock lending and cash management in the future.
“ We have taken the decision to appoint a global custodian in order to streamline administration and to enable us to take advantage of added-value services in the future, such as stock lending and cash management. The decision to appoint ABN AMRO Mellon was based on the quality of service on offer at a very competitive price,” says Jill Laycock, corporate accountancy group manager at Hertfordshire County Council.
“ We see this award as validation of the efforts our team have made in the UK, and for this marketplace to recognise ABN AMRO Mellon as a viable alternative to the competition,” says Nadine Chakar, managing director at ABN AMRO Mellon.