Dutch pension scheme Ahold Pensioenfonds has appointed BNP Paribas Securities Services as global custodian.
The mandate from the €4.5 billion fund includes other services such as investment accounting and regulatory compliance.
Ahold Delhaize, a large Netherlands food retailer, sponsors the scheme.
John de Waal, senior finance and risk director at the scheme, said the fund had selected BNP Paribas SS after an “extensive selection process”.
“Together with BNP Paribas Securities Services we will be able to further improve our performance and risk reporting,” he added.
Earlier this year, BNP Paribas SS gained 54 staff for its Netherlands operation after Dutch asset manager Actiam transferred its operational team.
Robert van Kerkhoff, head of the French custodian’s Dutch business, said the Ahold Pensioenfonds win “underlines our growing strengths” in the Dutch institutional market.
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