(August 14 – 14:45 ET) – Royal Trust says it has been appointed trustee and custodian for the Canada Post Corp. pension plan. The trust company will provide custody services for domestic and global assets. The initial contract is for five years and will be serviced out of the firm’s Montreal office.
Royal Trust says the win came after competing with five other custody suppliers in a four-month review. In a statement, the company attributed its success to the way its client focused approach matched the needs of Canada Post.
“The new Canada Post team wanted the hands-on involvement of their custodian,” said José Placido, senior vice president, global securities services. “We presented Canada Post with their day-to-day client services team, as well as relationship management and other expert resources in each of our product and service areas. It was our focus on people, not just our strength in pensions, that really worked.”
André Ouellet, president of Canada Post, agreed. “Running our own pension plan is something new for us,” he said. “Royal Trust was the right partner to help us launch our plan successfully and serve our employees well.”
-IE Staff