NETHERLANDS - The Dutch pension fund of Deutsche Bank has chosen pension provider Syntrus Achmea as its new administrator.

Explaining the scheme's decision, Frank Segers, vice-president at Deutsche Bank, said Syntrus Achmea had shown "professionalism, expertise and skills" during the selection process.

The Dutch pension fund of Deutsche Bank manages €140m of assets for more than 2,000 participants.

According to Segers, the transfer of administration is expected to occur by October.

Over the last 12 months, Syntrus Achmea has won a number of administration mandates, including the Dutch pension funds of merchant bank RBS, energy company BP, security firm G4S and furniture warehouse Ikea, as well as from the industry-wide scheme for the cigar sector.