€8,6 billion are in the bag, as the pension fund of leading Dutch mail operator PostNL turns to BNP Paribas both for global custody and administration.
Custody, investment accounting, investment compliance and regulatory reporting – as well as performance and risk analytics services – are in the basket of services that BNP Paribas Securities Services will be delivering to Pensioenfonds PostNL, starting New-Year 2020. Some details are lined out in a press release from the French bank.
It claims that it has been expanded its capacity and offering, and developed local expertise, in the Netherlands in recent years.
Pensioenfonds PostNL is a company pension fund of PostNL, the country’s 220-year-old national mail operator and currently “leading mail and logistics solutions provider in the Netherlands”.
The fund sported a total asset base of €8.6 billion as of last New Year.