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ATP selects BNY Mellon for asset servicing

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BNY Mellon has been appointed by Arbejdsmarkedets Tillægspension (ATP), Denmark’s mandatory government pension scheme, to provide custody, trade support and collateral management services for its USD100 billion of assets.

ATP is Denmark’s largest pension fund and one of the largest in Europe. It has over five million members – including more than a million pensioners – and provides income-related pensions supplementary to the Danish state-funded old-age pension.

BNY Mellon was appointed following a very focussed and detailed public procurement process that started in late 2018.

Daron Pearce, EMEA CEO, Asset Servicing at BNY Mellon, says: “We are delighted to have been chosen by ATP to support it in its mission of providing financial security for the Danish population in retirement. The appointment underscores BNY Mellon’s strong commitment to the Danish and wider Nordic market, and demonstrates the depth and breadth of our experience and technological infrastructure to meet the needs of large, sophisticated pension schemes and other asset owners.”
 
Kenneth Hallum Knudsen, Senior Vice President, Business Support in ATP, says: “Our choice of global custodian has a significant importance for our daily business and our ability to act fast and effectively. ATP wants strong and competitive partners, which is why – from several competent bids – we have chosen BNY Mellon as global custodian based on both quality, services and price. With this new agreement we get a fair financial saving combined with even better solutions and services.”

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