Standard Life Investments hired ABN AMRO Mellon Global Securities Services to provide global custody services for its $11 billion money market fund, confirmed Hilda Wright, a Standard Life spokeswoman. Also, Mellon Financial will provide fund administration and trustee services. She declined to identify the previous provider of the services. "We were very comfortable with the strength of Mellon's client servicing abilities and its ability to tailor operational solutions to our specific needs for Standard Life Investment's AAA-rated fund," Kevin Thompson, head of money market funds at Standard Life, said in a news release.
ABN AMRO Mellon Global Securities Services is a joint venture of ABN AMRO and Mellon Financial.