ABN AMRO Mellon has secured a Euros 13 billion pooled assets mandate from F&C Netherlands B.V., one of the five largest pension fund managers in The Netherlands. The bank won a fund administration mandate from the same client in December last year.
The services ABN AMRO Mellon will provide include global custody, foreign exchange and cash management. The joint venture bank will also manage F&C Netherland automated securities lending programme through Euroclear. The mandate builds on the already strong partnership between the two companies that was established in 1998.
Henk Breukink, Director and Country Head of F&C Netherlands B.V., talked about his reasons for the appointment. “ABN AMRO Mellon has consistently delivered an outstanding performance for F&C Netherlands, and I am delighted to announce this second mandate only three months after our client and fund administration appointment with them,” he says. “Once again they have demonstrated their ability to anticipate our investment requirements and have delivered a solution that meets our very specific needs as an asset manager servicing premier clients.”
Nadine Chakar, CEO of ABN AMRO Mellon, describes F&C Netherlands as “a very highly valued institutional client for us in our home market.” She says the apointment is “testimony to our reputation to partner successfully with the very best of Dutch financial institutions, and our ability to provide excellence in tailored global custody and value-added services in our home market.”