HSBC has been reappointed by the BBC as global custodian and fund administrator to its £17.3 billion pension scheme.
The BBC Pension Scheme is one of the largest occupational pension schemes in the UK, providing benefits to over 50,000 people, and HSBC has been providing custody services to it for the last 17 years.
The reappointment of BBC follows a detailed independent benchmarking and due diligence exercise of the pension scheme’s global custody arrangements, explain HSBC.
As part of the renewal, HSBC says it will continue providing global custody, fund accounting and performance measurement services.
Dale Grieve, European head of asset owners, securities services, HSBC, comments: “We’re absolutely delighted to continue our long-term strategic partnership with the BBC Pension Scheme and to provide ongoing support to the trust for the next five years, as mandated, in what is an increasingly challenging economic environment.”
Earlier this week, HSBC launched a new group of digital applications to help asset owners and managers monitor the net asset value (NAV) of their funds.
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