Dutch Pension Fund Oak Pensioenfonds Has Selected BNP Paribas As Its Global Custodian And Administrator For Its € 5.4 Billion In Assets

BNP Paribas’ Securities Services (BNP Paribas), a leading European provider of custody and investment services, has been appointed by Stichting Oak Pensioenfonds (Oak Pensioenfonds) as its global custodian and administrator. Through this partnership, Oak Pensioenfonds entrusts BNP Paribas with the custody and administration of its total invested assets of € 5.4 billion (as of December 2024). The services include custody, investment administration, investment compliance, performance measurement and regulatory reporting. 

After a careful selection process, Oak Pensioenfonds selected BNP Paribas for its strong local presence, in-depth knowledge of the Dutch pension sector, expertise about the implementation of the Wet toekomst pensioenen (Future Pensions Act), and a proven track record in supporting complex transitions.

“We are delighted to support Oak Pensioenfonds during this important phase of change,” said Mark Schilstra, Head of Securities Services Netherlands at BNP Paribas. “Our dedicated local team, backed by senior management commitment and our European scale, ensures a smooth onboarding process and a long-term partnership. This mandate confirms our ability to effectively support Dutch pension funds in a dynamic market environment.”

Paul de Geus, executive board member of Oak Pensioenfonds, commented, “In selecting a new service provider, we were looking for a party with in-depth knowledge of the Dutch market and the changing pension legislation. BNP Paribas not only showed a convincing transition and implementation plan, but also demonstrated strong local commitment and investment in relationship management. Choosing a European provider with relevant references gave us confidence that they are the right partner for us.”

The onboarding and migration process is now underway, with the go-live scheduled for 1 July 2025. 

With this partnership, BNP Paribas underlines its commitment to the Dutch pension market and its ambition to be the leading European partner for institutional investors navigating regulatory and operational challenges.