The EUR 13 billion PMI pension fund has selected Northern Trust to provide a full range of global custody services, including regulatory reporting for PVK (Chamber of Pensions and Insurance) and CBS (The Central Bureau of Statistics), on-line daily compliance monitoring through Alerts product, full performance measurement including Value at Risk, securities lending, and financial accounting. PMI will also use Northern Trust’s Web-based reporting and information system Passport.
“Northern Trust is pleased to have been chosen sole custodian to PMI’s pension fund” comments Lucille Knapp, vice president, and head of European business development, Northern Trust London. “PMI has chosen Northern Trust to deliver a comprehensive range of services, and we look forward to developing a strong relationship with them. We continue to grow our relationships and services in the Dutch market, and are happy to mark the new year with this new important client.”
Roland van den Brink, Managing Director PMI states: “Northern Trust has a proven track record of offering excellent high-end services to the Dutch market using state of the art communication technologies. It gives us every assurance for added value in the areas of performance measurement, risk control and compliance.”