April 25, 2012

BNY Mellon Appointed by NOW: Pensions as Custodian and Administrator to New DC Workplace Pension


LONDON, April 25, 2012 — BNY Mellon, the global leader in investment management and investment services, has been appointed to provide custody and investment administration solutions for NOW: Pensions' new cost-efficient UK defined contribution workplace pension.

NOW: Pensions is the UK-based multi-employer trust established in November 2011. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP (Arbejdsmarkedets Tillægspension), Denmark's largest pension fund and the administration is carried out by Paymaster, an established UK third party administrator.

Morten Nilsson, Chief Executive of NOW: Pensions said: "Efficient custody and investment administration solutions are key elements which enable us to offer a cost-effective solution to our members. BNY Mellon has supported ATP's offering in Denmark since 2007 and we look forward  to working with the company on our UK solution."

Hani Kablawi, Head of Asset Servicing for Europe, Middle East & Africa at BNY Mellon, said: "ATP is one of our most valued Danish clients. NOW: Pensions is looking to replicate the strong track record ATP has already established in Denmark, where it administers contributions for 4.7 million members across 160,000 employers. We are pleased to be able to provide innovative solutions coupled with high-quality servicing to support NOW: Pensions in this new endeavour."

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.

NOW: Pensions is a new multi-employer trust, which was established in November 2011 and has been operational from 1 January 2012. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP in Denmark and the administration is carried out by Paymaster, an established UK third party administrator. The NOW: Pension Trustee Directors, whose role is to safeguard the interests of members, comprises well-known industry figures with different areas of expertise:

  • Nigel Waterson, former Shadow Pensions Minister
  • Imelda Walsh, former Group HR Director of Sainsbury's
  • John Monks, member of House of Lords and former General Secretary of ETUC and TUC
  • Christopher Daykin, former Government Actuary
  • Win Robbins, former Head of European Fixed Income at Barclays Global Investors
  • Lars Rohde, CEO of ATP Group

This press release is issued by The Bank of New York Mellon to members of the financial press and media. All information and figures source BNY Mellon International unless otherwise stated as at March 31, 2012. The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818. Branch office: One Canada Square, London E14 5AL. Authorised and regulated in the UK by the Financial Services Authority.