ABN AMRO Mellon Global Securities Services B.V. has been appointed by Buckinghamshire County Council Pension Fund to provide global custody, investment accounting (SORP) and performance measurement applications for assets valued at 1 billion. The assets were transitioned on April 2.
Buckinghamshire issued an RFP in October 2006, with Mercer Investment Consulting acting as consultants. ABN AMRO Mellon’s appointment followed an extremely positive due diligence site visit at the Mellon Financial Centre in early February 2007 and a subsequent final presentation in Aylesbury later the same month.
“We were extremely impressed with ABN AMRO Mellon’s enthusiastic team and by the extensive suite of reports offered in respect of accounting and performance measurement,” said Frank Downes, chairman of the pension fund at Buckinghamshire County Council. “ABN AMRO Mellon has been chosen after a rigorous selection procedure and we look forward to working with them.”
Nadine Chakar, CEO of ABN AMRO Mellon, said: “It gives me great pleasure to welcome Buckinghamshire aboard. I am delighted that yet another UK local authority has selected ABN AMRO Mellon as their global custodian. Once again our success in delivering high quality client service and innovative solutions has been recognized by the marketplace, and my team and I look forward to working closely with our new partner.”