Pension Fund for the Dutch Social Housing Sector SPW appoints BNP Paribas as Global Custodian and Lead Asset Servicing Provider for its €15 billion investment portfolio

BNP Paribas’ Securities Services business, a leading European provider of custody and investment services, has been appointed by the Pension fund for the Dutch social housing sector (Stichting Pensioenfonds voor de Woningcorporaties – SPW), as its global custodian and lead asset servicing provider. Under the mandate, BNP Paribas will provide custody and asset servicing for SPW’s EUR 15 billion investment portfolio (as at 31 December 2025). The mandate covers a comprehensive range of services, including global custody, investment accounting, investment compliance, performance measurement and regulatory reporting.

The appointment follows a comprehensive selection process conducted earlier this year.

Henk Jagersma, Chair of the Employers’ Board at SPW, commented: “BNP Paribas’ strong local presence, in-depth knowledge of the Dutch pension sector, expertise in supporting the implementation of the Future Pensions Act (Wet toekomst pensioenen – Wtp), and proven capability in delivering complex transition programmes were key factors in our decision. Its European footprint and European cloud infrastructure also played an important role in our selection.”

Mark Schilstra, Head of Securities Services Netherlands at BNP Paribas, said: “We are delighted to welcome SPW as a new client. As SPW evolves its operating model over the coming years, our local expertise, European platform and global scale position us well to support the fund throughout this important transition.”

Jan-Albert Koopman, Business Development Manager, Institutional Investors at BNP Paribas, added: “This appointment reflects the confidence institutional investors place in our asset servicing capabilities. Dutch pension funds are navigating a period of significant regulatory and operational change. We are committed to supporting them with local expertise, a proven migration approach and solutions designed to meet their evolving needs.”

The onboarding and migration programme is already underway, with the new services scheduled to go live on 1 January 2027.

This mandate further strengthens BNP Paribas’ position in the Dutch pensions market and underlines its commitment to supporting institutional investors as they adapt to evolving regulation and manage complex operational transformation programmes.