mast image

Special Report

Impact investing

Sections

RBS wins Centrica deal

RBS Trust Bank, the specialist in-vestor services subsidiary of The Royal Bank of Scotland has clinched the £500m ($810m) custody of the balanced funds in the £1bn Centrica pension scheme, formerly part of the demerged British Gas pension fund.

Rita Powell, group pensions manager at Centrica, said: RBS showed the independence and experience in custodianship and investment management support, alongside the consolidated level reporting skills we required."

The remaining £500m of passive investment will be in the custody of Midland Securities Services, which secured the mandate due to its current relationship with Centrica's passive managers Legal & General. Watson Wyatt acted as consultants.

RBS has also won a new custody mandate with Newton Investment Management, following the withdrawal of Bank of Scotland from the market. Newton have appointed RBS to manage a further £2.3bn of assets, comprising private clients, charities and institutional funds, to add to the £2bn already under custody."

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2558

    Asset class: Private Equity.
    Asset region: Global or Swiss.
    Size: USD $5-10m.
    Closing date: 2019-08-20.

  • QN-2559

    Asset class: Multi Assets.
    Asset region: -.
    Size: EUR 15m (may be split into two mandates EUR 7.5m).
    Closing date: 2019-09-06.

  • QN-2560

    Asset class: Private Equity.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

  • QN-2561

    Asset class: Infrastructure.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

Begin Your Search Here
<