Aegon awards E19bn custody mandate to KAS

NETHERLANDS – Aegon Asset Management Netherlands has awarded KAS Bank a 19 billion-euro mandate for the custody and administration of European bonds and Dutch equities.

KAS Bank replaces Dexia Securities, said Aegon spokeswoman Marjolein Wester. Under the deal, KAS Bank would also “provide a wide range of related services” to the asset manager. The transition was completed on December 1.

“We are always looking for value for money, service, quality and best price,” Wester said, adding that KAS was now had the best offer. She said that Citibank would remain Aegon’s other custody bank.

KAS Bank chairman Sandor von Balluseck said: “We are extremely pleased with the arrival of Aegon Asset Management Netherlands, one of the largest European institutional investors.”

“We selected KAS Bank on the basis of their professional services and their establishment in the Netherlands,” said Aegon Asset Management Netherlands chairman W.H. van Houwelingen. The company is part of Aegon Nederland.

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