BNP Paribas Securities Services has been appointed to provide global custody and value added services to Ahold Pensioenfonds, the EUR 4.5 billion pension fund of Ahold Delhaize, the Netherlands’ leading food retailer.
The mandate covers custody, investment accounting, investment compliance, regulatory reporting, performance measurement and risk reporting and is effective from 1 January 2018.
This marks another milestone in the development of BNP Paribas Securities Services in the Netherlands. Earlier this year, the bank acquired a full-service local asset administration platform and a team of more than 50 specialists, which significantly increased its existing local expertise and capacity in the country.
John de Waal, Senior Director Finance & Risk of Ahold Pensioenfonds, said: “After an extensive selection process we selected BNP Paribas Securities Services as our new custodian. BNP Paribas Securities Services offers local services tailored to our needs and requirements, supported by a solid global custody organisation. Together with BNP Paribas Securities Services we will be able to further improve our performance and risk reporting.”