ABN AMRO Mellon Global Securities Services B.V. has won the Euros 850 million mandate for global custody services for Onderlinge Levensverzekering-Maatschappij’s-Gravenhage U.A. (Onderlinge) and one of the few in the Dutch market that is still independent.
The mandate’s services will comprise core custody services, with the potential for value-added solutions, including investment accounting and performance measurement.
Pieter Loyson, chief executive officer of Onderlinge’s-Gravenhage, said of the mandate, “There was intensive competition from the principal local market players for our mandate but, after careful review and consideration of all our business requirements, I was absolutely clear that the winner could only be ABN AMRO Mellon. They demonstrated a significant wealth of experience and expertise in meeting the demanding needs of insurance companies, as well as the ability to provide the best technology and solutions appropriate to our very specific requirements.”
Nadine Chakar, CEO of ABN AMRO Mellon, added, “Onderlinge ‘s-Gravenhage has a great name in the Dutch insurance market, and we are delighted to be able to provide global custody services that will meet their needs in a timely, cost-efficient and personalised manner. It is a pleasure for us to be able to support them in their growth, and we look forward to delivering outstanding service to their team and ultimately to their policy holders.”