ABN AMRO Mellon Global Securities Services B.V. has been appointed by Stichting Pensioenfonds UWV in the Netherlands as its new global custodian. ABN AMRO Mellon will provide investment custody services, including accounting, performance measurement and full administrative and regulatory reporting for the pension fund assets, totalling 2.2 billion.
Stichting Pensioenfonds UWV is the pension fund of Uitvoering Werknemersverzekeringen (UWV), the prominent Workers Insurance Authority based in The Netherlands. The UWV pension fund was created on 1 July 2003 as a result of a merger between the pension funds of UWV, GAK Nederland B.V. and CADANS.
“Stichting Pensioenfonds UWV is a newly consolidated pension fund, which therefore required a specialist in the Dutch market to work within a tight timeframe to provide a flexible, high-standard service. I am delighted that UWV recognised ABN AMRO Mellon’s strengths and I look forward to a strong and productive relationship with UWV,” says Nadine Chakar, CEO of ABN AMRO Mellon.