22 September 2017
London
Reporter: Drew Nicol

Pension fund mandate for BNP Paribas


BNP Paribas has been appointed to provide global custody for £3 billion in pension fund assets for the West Sussex Pension Fund.

The West Sussex Pension Fund is the fifth appointment BNP Paribas has secured under the Local Government Pension Schemes (LGPS) National Framework Agreement.

Along with global custody services, BNP Paribas will provide investment accounting, investment reporting and performance services.

Jeremy Hunt, pension panel chairman at the West Sussex Pension Fund, said: “We were impressed by the expertise of the individuals we worked with and the technology underlying its services—particularly BNP Paribas’s reporting tools, such as its data navigation analysis system.”

Sid Newby, head of business development for the UK at BNP Paribas securities services, commented: “The UK pension market is currently undergoing significant change and we are committed to helping schemes facilitate and benefit from this.”

“We are big supporters of the LGPS initiative and engaged early on with local authorities and their consultants as they were assessing various operating models.”

More news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Margin rules depress derivative contract terms, survey finds
19 October 2017 | Brussels | Reporter: Jenna Lomax
Respondents to the commission’s quarterly survey on EU securities financing market liquidity cited the implementation of European Market Infrastructure Regulation (EMIR) margin requirements for non-cleared OTC derivative contracts as the main driv
AAOI and Euronav top FIS hot stocks lists
18 October 2017 | London | Reporter: Jenna Lomax
The Belgium-based operator of crude oil tankers and storage facilities, has been a regular feature on the list in the last month
LCH migrates to new Swiss reference rate
18 October 2017 | Zurich | Reporter: Jenna Lomax
Basler Kantonalbank, Credit Suisse and Zürcher Kantonalbank are due to be among the first financial services to clear using the new rate from December 2017
Broadridge completes blockchain bilateral repo pilot
18 October 2017 | New York | Reporter: Drew Nicol
The pilot, conducted in partnership with Natixis and Societe Generale, utilises distributed ledger technology in order to make complex processes “more secure, transparent and efficient”
Repo steps back from the brink
18 October 2017 | London | Reporter: Drew Nicol
The European repo market may be recovering from the severe lack of liquidity experienced at year end 2016, according the International Capital Market Association
Tradeweb launches first electronic swaption trade on TW SEF
17 October 2017 | New York | Reporter: Jenna Lomax
The trade, which was executed by asset management firm, Garda Capital, and processed through MarketWire, officially marked the launch of swaptions trading on the TW SEF
BlackRock sees lending revenue growth
17 October 2017 | London | Reporter: Drew Nicol
BlackRock saw its securities lending revenue hit $150 million in Q3, compared to $142 during the same period in 2016