Malaysia’s civil service pension fund Kumpulan Wang Persaraan (KWAP) has reappointed Bank of New York Mellon Corporation (BNY) as its global custodian.
BNY made the announcement in a LinkedIn post on May 22.
“For more than 15 years, BNY has supported KWAP through the global expansion of its investment programme. Today, we are proud to continue that relationship as KWAP’s sole global custodian,” the US firm says.
According to the company, its role with KWAP extends beyond custody to include enhanced capabilities in risk management, operational efficiency and governance.
Spokespersons for KWAP did not immediately respond to questions from Asia Asset Management.
KWAP is Malaysia’s second largest pension fund, with more than 185 billion ringgit (US$46.51 billion) of assets under management as of end-2024.
