ABN AMRO Mellon Global Securities Services has been appointed by Wiltshire County Council to provide global custody, investment accounting, securities lending and performance measurement services for assets valued at 1.1 billion.
Wiltshire County Council acts as the administrating authority for the Wiltshire Pension Fund (WPF), a defined benefit scheme with 18,500 active members and administered on behalf of more than 50 employers. WPF hired consultant Thomas Murray to conduct a formal custody review, and an RFP was issued in August 2006. Following an initial presentation in Trowbridge, WPF attended a four-hour due diligence site at the Mellon Financial Centre in London in December, at the end of which the Fund confirmed ABN AMRO Mellon’s appointment.
“We were very impressed with the package offered by ABN AMRO Mellon, particularly their IT platform, combined with excellent value for money and an enthusiastic, professional team,” says David Broome, the Capital & Investments Manager at Wiltshire County Council. “We are very pleased to have appointed ABN AMRO Mellon as our partner to provide custody and related services in the future.”
“I am delighted that Wiltshire have appointed us as their custodian,” adds Nadine Chakar, the CEO of ABN AMRO Mellon. “Once again, a UK local authority has decided that ABN AMRO Mellon’s unique combination of dedication, flexibility and sophisticated solutions is the answer to the operational and regulatory challenges they face today. My team and I look forward to building a long and fruitful partnership with Wiltshire over the coming years.”