Northern Trust wins SFP mandate
Northern Trust says it has been awarded an asset servicing mandate by the €330m Stichting Federatief Pensioenfonds.
Northern will provide custody, securities lending and performance measurement services to the SFP, the collective pension fund for small and medium-sized privatised public bodies in the Netherlands.
“Northern Trust has fully taken on board our priorities and has demonstrated a thorough understanding of our requirements,” said SFP trustee board chairman Dick Snijders, who is the former chief executive of the Philips pension fund.
“They approached the tender process consultatively and flexibly which enabled us to reach the decision to award them this mandate promptly.”
“We are delighted to have been selected by SFP and to be able to announce another important industry pension scheme mandate win so soon after Pensioenfonds Vervoer and the official opening of our office in Amsterdam in March,” added Paul Cutts, head of Northern Trust’s Dutch office.