The Corporation of London has handed the custody of both its pension fund and its endowment funds to ABN AMRO Mellon Global Securities Services. The Corporation’s three funds amount to a portfolio of 800 Million
With the help of specialist consultants Thomas Murray, the Corporation of London undertook a comprehensive review of their global custody arrangements. ABN AMRO Mellon was selected to provide integrated custody, investment accounting, performance measurement and commission recapture for the funds, spanning nineteen separate accounts managed by five fund managers.
“Our primary objective was to ensure that our assets were held safely, by a committed provider,” says Peter Derrick, The Chamberlain of London. “Not only did ABN AMRO Mellon offer exceptional financial stability, but they equally stood out as a consistent leader in terms of service quality, flexibility and technological strength.”
“I am delighted to announce another win in a key market for ABN AMRO Mellon,” adds Nadine Chakar, CEO of ABN AMRO Mellon. “Our continued growth in the UK local authorities market is further endorsement of our expertise and strength in this sector. We look forward to a long-term, mutually beneficial relationship with The Corporation of London.”