BNY Mellon Asset Servicing wins Eureko mandate

Source: BNY Mellon Asset Servicing

BNY Mellon Asset Servicing, the global leader in securities servicing, has been appointed by Eureko B.V. to provide global custody and value added services for group assets valued at EUR38 billion.

With operations in 12 countries across Europe and more than 20,000 employees, the Eureko group is a privately-owned financial services group registered in the Netherlands that offers a full range of insurance and related services: life and non-life cover, pension products, health insurance, banking and asset management.

In addition to global custody, BNY Mellon will provide datawarehouse, reporting, accounting, fund administration and asset pooling services, as well as securities lending.

BNY Mellon's presence in the Dutch market, its detailed knowledge of the Dutch financial system and its broad product set were cited as key factors in its appointment by Eureko.

Rob Heerkens, Director at Eureko Group Investments, said: "In making our decision we took into account BNY Mellon's reputation in the market, its flexible systems, its solid understanding of the services in scope, and the excellent impression made by the team that will service our relationship on a day-by-day basis. BNY Mellon is a true global player that is fully committed to the asset servicing business, and as such is ideally placed to support Eureko in its market risk management."

Nadine Chakar, Executive Vice-President and Head of Europe, Middle East and Africa (EMEA) at BNY Mellon Asset Servicing, said: "This mandate is by any measure a milestone deal not just in the Dutch marketplace but also the wider Continental European asset servicing business. We are honoured to have been selected by Eureko after what was a very thorough due diligence process and we look forward to working closely with them going forward."

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