Pensioenfonds PostNL has chosen BNP Paribas Securities Services to provide its custody and value-added services.
The mandate, effective from 1 January 2020, covers custody, investment accounting, investment compliance, regulatory reporting as well as performance and risk analytics services.
Pensioenfonds PostNL is the company pension fund of PostNL, a mail and logistics solutions provider based in the Netherlands.
The pension fund has grown its presence in the Netherlands in recent years, 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."
Mark Schilstra, head of the Netherlands and the Nordics at BNP Paribas Securities Services, commented: “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."
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