London Borough of Croydon Pension Fund, Croydon, England, renewed its contract with BNY Mellon to provide custody, fund administration and cash management services, confirmed Nigel Cook, head of pensions and treasury at Croydon Council.
The current contract was renegotiated, Mr. Cook said.
Independent custody consultant Amaces was brought in to look at some of the services and “to challenge some of the component parts of it,” Mr. Cook said in a telephone interview.
The pension fund has £668 million ($1.1 billion) of assets.
