PGGM Appoints J.P. Morgan as Third Global Custodian

PGGM has appointed J.P. Morgan as its third global custodian for its internally managed assets following a due diligence process of providers.

PGGM also uses BNY Mellon and Citi as its custodians.

The leading Dutch pension administrator has its roots in the healthcare and social work sector managing approximately €133 billion of pension assets of more than 2.5 million Dutch participants. PGGM provides services in the field of pension fund management, asset management, management support and policy advice to various pension funds.

Marc van den Berg, COO Investment Management PGGM: “During the selection process over the last nine months we got acquainted with the professionalism and skills of employees of JP Morgan and their resilience in meeting our objectives. We are keen to get this relationship started”.

Francis Jackson, head of Investor Services, EMEA, J.P. Morgan: “We are delighted that PGGM has selected J.P. Morgan to provide custody and related services. This is an endorsement of J.P. Morgan’s capabilities, demonstrating the success of J.P. Morgan in a highly competitive marketplace. The Dutch market is an extremely important and established market for J.P. Morgan and we continue to make significant investments to enable us to continue to service the needs of our clients and retain our position as the market leader.”