BNY Mellon reselected for custody services by RPMI Railpen

BNY Mellon has been reselected by RPMI Railpen to provide core custody and associated services, continuing a 22-year relationship.

The services provided by BNY Mellon include core custody, securities lending, foreign exchange, and cash management.

Using Eagle Investment Services, BNY Mellon continues to support Railpen with data management and investment accounting.

Paul Nathan, COO at Railpen, said: “Through a major transformation programme at Railpen, as we bring significant asset management capability in-house, BNY Mellon has demonstrated not only the quality of its service proposition but also its flexibility and professionalism.”

“A robust operating model is essential to ensuring that Railpen continues to meet its mission to pay pensions, securely, affordably and sustainably. We are very pleased BNY Mellon will be supporting us with this over the coming years.”

Daron Pearce, CEO, BNY Mellon Europe, the Middle East and Africa asset servicing, said: “Railpen has undertaken a major, innovative programme to overhaul its investment structure and processes in recent years.”

“It has been great to support them with this and their decision to stay with BNY Mellon demonstrates how our commitment to providing pension schemes with the most comprehensive service offering will enable Railpen to focus on delivering value to its members.”