Stichting Pensioenfonds CSM Suiker and CSM Nederland, both of Amsterdam, hired Northern Trust as global custodian, said Nico Schaftenaar, manager for both plans. Incumbent ABN AMRO Mellon Global Securities Services was allowed to rebid but was rejected because ABN AMRO already manages assets for the two plans. Mr. Schaftenaar said plan trustees wanted to separate asset management from custody arrangements.
CSM Suiker has total assets of 350 million euros ($380 million); CSM Nederland has 150 million euros.
