Dutch pension fund Stichting Pensioenfonds ING has appointed investment and securities group Bank of New York as global custodian for a E2.2 billion fixed income portfolio.
ING has approximately E10 billion worth of assets. The majority of the residual balance is invested in mutual funds, already custodized by the Bank of New York.
The Bank of New York Company provides an array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. It has a global client base, including a broad range of established financial institutions, corporations, government entities, endowments and foundations.