BNP Paribas Securities Services, a global custodian with EUR 9.3 trillion in assets under custody, has been appointed to provide global custody and value added services to Ahold Pensioenfonds, the 4.5 billion pension fund of Ahold Delhaize, the Netherlands’ leading food retailer.
The mandate covers custody, investment accounting, investment compliance, regulatory reporting, performance measurement and risk reporting and is effective from 1 January 2018.
This marks another milestone in the development of BNP Paribas Securities Services in the Netherlands. Earlier this year, the bank acquired a full-service local asset administration platform and a team of more than 50 specialists, which significantly increased its existing local expertise and capacity in the country.
John de Waal, Senior Director Finance & Risk of Ahold Pensioenfonds, said: “After an extensive selection process we selected BNP Paribas Securities Services as our new custodian. BNP Paribas Securities Services offers local services tailored to our needs and requirements, supported by a solid global custody organisation. Together with BNP Paribas Securities Services, we will be able to further improve our performance and risk reporting.”
Robert van Kerkhoff, Head of BNP Paribas Securities Services Netherlands, added: “We are delighted to welcome Ahold Pensioenfonds as a client. This mandate win underlines our growing strengths in the Dutch institutional market and our ability to deliver operational innovation and service quality to major institutional investors in the Netherlands.”