The Bank of New York says the Reuters pension fund has appointed it to provide custody services. The appointment is the result of a competitive review process conducted by Watson Wyatt, actuary to the pension scheme.
“Our review process highlighted the strong calibre of the Bank’s custody team and its flexible approach,” says Greg Meekings, chairman of Reuters Pension Fund. “We were impressed by their expertise and technology, which we believe will meet our high standards in areas like performance measurement, risk management and reporting.”
Benjie Fraser, managing director at The Bank of New York, says “we are committed to building on the Bank’s position as a market leader in this sector, and winning the business of prestigious companies such as Reuters shows how strong our offering is.”