MN Services unveils pension outsourcing package
NETHERLANDS – MN Services has launched a pension outsourcing product for pension funds in the Netherlands.
The Rijswijk-based company said Financial Service Provider is a new customised offering which enables other pension funds to use MN Service’s back- and mid-office administration functions.
“The product was developed as a result of strong market demand, and an increasingly stringent regulatory environment,” the company said in a release.
“During the last few years, pension funds have witnessed significant regulatory changes, an increasing demand for returns, and a strong focus on costs.
“In this environment, asset managers are driven towards a higher lever of quality, efficiency, and accountability. The sharing of Mn Services’ back- and mid-office asset management functionality provides one possible solution, hence the introduction of the Financial Service Provider product line.
The product includes regulatory reports, risk management, compliance, perfomance management and custody services.
MN Services has more than 21 billion euros under management.
Meanwhile, MN Services also said that it has hired a former executive from ABN Amro, Bernard van de Ven.
Van de Ven will be senior account manager responsible for marketing. He will report to Jan Bertus Molenkamp, the head of account management department. “Molenkamp hopes to expand the growing team by a further member in spring/summer of 2004,” MN said.