DEPFA appoints ABN AMRO Mellon for mandate

DEPFA Bank plc has appointed global custody services provider ABN AMRO Mellon to run its €115 billion custody and securities lending mandate.

ABN AMRO Mellon has entered into exclusive negotiations for the mandate, and will in addition provide administrative services to Dublin-based DEPFA.

Commenting on appointment decision, Barry Stoneham, managing director of operations at DEPFA was confident that ABN AMRO Mellon could deliver.

"Ultimately we were thoroughly swayed by ABN AMRO Mellon team's outstanding client focus and service quality," he said.
"This is a very significant mandate for us to appoint as we anticipate strong growth plans for our business."
Nadine Chakar, CEO of ABN AMRO Mellon was also very positive about the agreement.
"This is a fantastic win for us, and we are absolutely delighted with the appointment," she said.
DEPFA Bank specializes in providing financial services to the public sector worldwide, including reverse repo transactions and securities lending.

Although based in Dublin, it has branches across Europe, as well as in the US, Japan and Hong Kong.

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