Swedish state pension fund Sjunde AP-fonden (AP7) has reappointed BNY Mellon to offer global custody and collateral services for assets worth US$28.8 billion.
The new mandate covers securities lending services as well as a range of collateral-related solutions.
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Through this deal, AP7 will be able to use DM Edge – the BNY Mellon’s derivatives margin management platform.
Hani Kablawi, head of Asset Servicing for Europe, Middle East & Africa at BNY Mellon said that the thorough evaluation that AP7 conducted during this selection process is to be commended and the fact that it culminated in an extension of the valued relationship demonstrates BNY Mellon’s expertise and commitment in support of our clients’ fast-evolving investment services needs.
"In addition to our long track-record as a global custodian, our Global Collateral Services business brings together an expansive and growing range of collateral solutions that ensure AP7 and our other clients have the best tools available to help them successfully navigate the ongoing changes that are reshaping the commercial and regulatory landscape here in Europe," he added.
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