The Bank of New York has been appointed global custodian to the pooled assets of the £230 million ICI Specialty Chemicals Pension Fund.
ICI says it selected The Bank of New York on the basis of its accounting service and custody capabilities, and its “commitment to further strengthen its market leadership by establishing new custody relationships.”
“Our appointment by an ICI group pension fund, a big name in this sector, is testimony to the strength of our global custody offering,” says Benjie Fraser, managing director at The Bank of New York. “We are continually investing in new products and better technology to enable us to provide tailored products and services that meet the specific needs of each of our clients.”