ABN AMRO Mellon Global Securities Services B.V. was appointed to provide global custody, cash management and securities lending for Universities Superannuation Scheme Limited’s externally managed assets, which are valued at 5 billion.
As the corporate trustee of the UK’s principal pension scheme for employees of universities, higher education and research institutions, the USS is one of the country’s largest private sector pension schemes with over 390 institutions.
“In addition to its reputation within the UK pensions sector for client service, we were impressed with the Mellon technology platforms and particularly attracted to their securities lending capabilities,” says Colin Hunter, chief financial officer at USS. “ABN AMRO Mellon’s capabilities in the specialised area of lending auctions were a key determining factor in their appointment. We were also happy with the assurances that were given to us regarding the impact of the Bank of New York-Mellon merger.”