Brown Brothers Harriman (BBH) has been appointed to provide global custody and fund accounting services for Pension Fund of Commerce (Lifeyrissjodur Verzlunarmanna), Iceland’s second largest pension fund with total assets of $1.8 billion. This new relationship also marks BBH’s first Icelandic mandate.
“We are extremely pleased Pension Fund of Commerce has chosen to partner with BBH as we continue to expand our growing presence in the Nordic region,” says Annika Larsson, BBH vice president and head of relationship management for the Nordic region. “BBH’s focused approach, integrated client solutions and unparalleled expertise in the global custody and fund accounting arenas will greatly assist the fund in meeting industry challenges.”
“BBH’s reputation in the industry and its dedication to building lasting client relationships separated the firm from the field of competitors,” adds Thorgeir Eyjolfsson, managing director of Pension Fund of Commerce. “The bank’s comprehensive suite of products and proven back office capabilities were a crucial factor in the selection process. Last but not least, BBH was highly recommended by foreign colleagues.”