BNP Paribas Securities Services, a leading custodian with EUR 10 trillion in assets under custody*, has been selected by Pensioenfonds PostNL to provide custody and value-added services.
Pensioenfonds PostNL is the company pension fund of PostNL, the leading mail and logistics solutions provider in the Netherlands and has a total asset base of EUR 8.6 billion **.
The mandate, effective from 1 January 2020, covers custody, investment accounting, investment compliance, regulatory reporting as well as performance and risk analytics services.
The award by Pensioenfonds PostNL reinforces BNP Paribas Securities Services’ position as a leading custody services provider in the Dutch institutional market. The bank has significantly grown its presence in the Netherlands in recent years, adding capacity, developing its local expertise and expanding its offering with a new pension fund dashboard enabling its Dutch institutional clients to monitor their investments daily for better oversight and enhanced risk monitoring.
René van de Kieft, Chairman of Pensioenfonds PostNL, said: “In the search for a new custodian, we selected BNP Paribas Securities Services, a stable, leading global provider with a solid infrastructure. Their Dutch team, which responded to our specific wishes for the fulfilment of the mandate, their capacity and set-up in the Netherlands, met our specific requirements. This gives us confidence in BNP Paribas Securities Services. The transition process that will take place in the coming months is of course exciting, but as a board we will be close to the process, ensuring that everything runs as smoothly as possible. ”
Mark Schilstra, Head of the Netherlands and Nordics at BNP Paribas Securities Services, added: “We are delighted to welcome Pensioenfonds PostNL as a client. This mandate win highlights our strong growth in the Dutch institutional market and our ability to deliver operational innovation and best-in-class service to major institutional investors. We look forward to our long-term partnership with Pensioenfonds PostNL.”