Source: BNY Mellon Asset Servicing
BNY Mellon Asset Servicing B.V. has been appointed by Stichting Pensioenfonds OPG to provide global custody, investment accounting, regulatory reporting, performance measurement, attribution and analytics for assets worth EUR 219 million.
The OPG Group is an international retail and distribution company for pharmaceuticals and medical supplies and has operations in the Netherlands, Poland, Belgium, Germany, Denmark, Norway, Hungary and Switzerland.
BNY Mellon Asset Servicing B.V. will be working closely with the Blue Sky Group, the fiduciary manager recently hired by OPG to provide advisory and investment management services to the fund.
Johan van der Veen, Managing Director at Pensioenfonds OPG, said: "Our pension fund is relatively small in size and therefore relies heavily on outsourcing, and so when it came to enhancing our custody and investment accounting BNY Mellon Asset Servicing B.V. was the ideal choice due to its comprehensive product suite and local servicing capabilities."
Nadine Chakar, Chair of the Supervisory Board, BNY Mellon Asset Servicing B.V. and Head of EMEA, BNY Mellon Asset Servicing, said: "I am delighted that Pensioenfonds OPG has selected us as its partner. This appointment underlines our unique ability to combine a broad range of innovative products and technologies with local market expertise to produce a tailored package of solutions that meet the specific needs of individual Dutch pension funds."
Separately, BNY Mellon Asset Servicing, the global leader in asset servicing, has been selected by Banco Central de Uruguay as global custodian for its $4.5 billion portfolio. In addition, BNY Mellon Asset Servicing will provide investment accounting, performance and risk analytics, and securities lending services.
"We are pleased that we are able to provide the full range of asset servicing solutions that Banco Central requires," said Patrick E. Curtin, executive vice president of BNY Mellon Asset Servicing and head of U.S. Asset Services. "It has become increasingly important to be able to go beyond traditional custody and deliver supplemental services such as performance and risk analytics. The Bank of New York Mellon has developed a unique leadership position in providing those value-added services to clients worldwide."
Banco Central was created in 1967 by the 196th article of the Republica Oriental del Uruguay's Constitution, and it has the legal nature of "Ente autonomo" (state autonomous entity). On July 6, 1967, the law 13594 established the institution as "Banco Central del Uruguay (BCU)." Before the creation of the BCU, the Issuing Department of the Banco de la Republica Oriental del Uruguay was in charge of issuing currency, managing the monetary regime and supervising and monitoring the banking system, as it was established by its charter (Law 9808, January 2 1939).