NETHERLANDS – ABN Amro Mellon has won a €850m global custody services mandate from Dutch mutual life insurance company Onderlinge Levenverzekering-Maatschappij ‘s-Gravenhage U.A.
The mandate includes core custody services, with the potential for value-added solutions, including investment accounting and performance measurement, said a press statement released today.
The competitive tendering process was launched in May 2005, and took place over three months. The mandate will run for an indefinite period.
No adviser was used in the process, as Onderlinge considered its own in-house capabilities to be sufficient.
IPE understands that ABN Amro Mellon's predecessor at Onderlinge was a global custody services provider, but no other details were available.