GIS’s Shell brief
The Shell Pensions Trust has appointed Global Investor Services (GIS), the global custody division of HSBC Bank, to administer approximately £5.8bn (e9bn)of assets. These will consist of UK domestic fund and sterling-denominated eurobonds.
GIS will also provide securities lending, gilt repo transactions and institutional banking facilities for the fund.
The appointment follows the withdrawal of the previous custodian, Lloyds TSB Securities Services, from the market.