Sections

Gwent picks ABN for custody and security services

UK- Greater Gwent (Torfaen) County Borough Council has appointed ABN AMRO Mellon to provide global custody and security services for its £700m (e1.1bn) employee pension scheme.

In addition to core custody services, ABN AMRO Mellon is providing investment accounting, securities lending, performance measurement and analytics to the fund.

The appointment is the first time Gwent has direct engagement of a global custodian. Philip Nash, director of finance for the Council, said: "our decision to appoint a global custodian was based on an increased need for consolidated reporting and the desire to benefit from value-added services.

"ABN AMRO Mellon demonstrated that it has the best systems, services and people to meet these requirements."

The Gwent scheme has 32,000 members, including 18,000 active contributors, 4,000 on preserved benefits and 10,000 pensioners.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2563

    Asset class: Mid & Small Cap Equities.
    Asset region: Global.
    Size: USD $130m.
    Closing date: 2019-09-27.

  • QN-2564

    Asset class: Large Cap Growth Equities.
    Asset region: Global Developed Markets.
    Size: USD $130m.
    Closing date: 2019-10-04.

Begin Your Search Here
<