ABN AMRO Mellon Global Securities has launched a proprietary domestic custody operation in The Netherlands. Previously, the company used the services of ABN AMRO, which recently disposed of its domestic custody activities worldwide.
The bank explains that “the establishment of the new service was determined by ABN AMRO Mellon’s desire to offer in its home market the best local custody services for its global custody clients.”
“After evaluating thoroughly what was available to us in the Dutch market, we knew we were in a far better position to provide local custody services directly to our clients,” adds Nadine Chakar, CEO of ABN AMRO Mellon. “The launch is an important milestone for us in our home market, and is one in a series of long-term commitments to The Netherlands and our other core European geographies. It will contribute further to our solid and controlled organic growth across Europe. At the same time, clients are assured in the knowledge that our custody is delivered utilising the most effective and secure technology and a single-level platform, providing them with the best flexibility and safety that they rightly demand for their assets.”