LONDON, April 25, 2012 – BNY Mellon, the global leader in investment management and investment services, has been appointed to provide custody and investment administration solutions for NOW: Pensions’ new cost-efficientUKdefined contribution workplace pension.
NOW: Pensions is the UK-based multi-employer trust established in November 2011. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP (Arbejdsmarkedets Tillægspension),Denmark’s largest pension fund and the administration is carried out by Paymaster, an establishedUK third party administrator.
Morten Nilsson, Chief Executive of NOW: Pensions said: “Efficient custody and investment administration solutions are key elements which enable us to offer a cost-effective solution to our members. BNY Mellon has supported ATP’s offering inDenmarksince 2007 and we look forward to working with the company on ourUKsolution.”
Hani Kablawi, Head of Asset Servicing for Europe, Middle East & Africa at BNY Mellon, said: “ATP is one of our most valued Danish clients. NOW: Pensions is looking to replicate the strong track record ATP has already established inDenmark, where it administers contributions for 4.7 million members across 160,000 employers. We are pleased to be able to provide innovative solutions coupled with high-quality servicing to support NOW: Pensions in this new endeavour.”
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NOW: Pensions is a new multi-employer trust, which was established in November 2011 and has been operational from 1 January 2012. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP inDenmark and the administration is carried out by Paymaster, an establishedUK third party administrator. The NOW: Pension Trustee Directors, whose role is to safeguard the interests of members, comprises well-known industry figures with different areas of expertise:
- Nigel Waterson, former Shadow Pensions Minister
- Imelda Walsh, former Group HR Director of Sainsbury’s
- John Monks, member of House of Lords and former General Secretary of ETUC and TUC
- Christopher Daykin, former Government Actuary
- Win Robbins, former Head of European Fixed Income at Barclays Global Investors
- Lars Rohde, CEO of ATP Group
This press release is issued by The Bank of New York Mellon to members of the financial press and media.
All information and figures source BNY Mellon International unless otherwise stated as at March 31, 2012.
The Bank of New York Mellon, London Branch, registered inEnglandandWaleswith FC005522 and BR000818
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Authorised and regulated in theUKby the Financial Services Authority.