Banca Commerciale Italiana (BCI), has been appointed as custodian for the Italian Fondenergia pension fund, set up for the 50,000 employees of the state-owned ENI group for chemical and private oil companies. Elisabetta Pellichero, global securities at BCI says: On top of normal custody settlement business, BCI will also verify that Fondenergia's investments stay in line with the regulations of the fund itself and of Italian market statutes. We will also verify the performance of the fund's investment managers, which are to be selected in September.""