Berenberg wins pension fund tender for Vienna Bar Association
- Austria’s biggest contract award in 2013 goes to Berenberg
- Open call for tenders across the EU
Vienna/Hamburg. Berenberg, one of Europe’s leading private banks, based in Hamburg, is to manage the pension fund assets (Part A) of the Vienna Bar Association, Austria’s largest professional lawyers’ body with more than 2,800 practising attorneys.
The contract was awarded following an open call for tender across the EU, which began in July 2013 and was met with huge interest from numerous Euro-pean banks and financial service providers. “This objectified and comprehensive process has enabled us to set a new standard for professional associations in Austria,” said Vice President of the Vienna Bar Association, Dr Stefan Prochaska. “On a European level, and in objective terms, we have identified the best solution for the management of our pension fund,” continued Dr Prochaska. The proposed investment strategy together with the risk management approach was the crucial factor, and not the price, he added.
Independent investment consultants P & F Portfolio- & Finanzmanagement GmbH, Vienna, provided specialist support in the bidding process, while the law firm Siemer-Siegl-Füreder & Partner, Vienna, was the awarding body.
“We are delighted to have beaten off the toughest competition to win this pres-tigious contract in the area of pension provision,” said Harald Sandner, Director in Asset Management at Berenberg and responsible for the Austrian and southern German market. “The demands of this value retention mandate in the amount of EUR 70 million are very complex as regards risk management and reporting. With our active, quantitative asset management, we have been successfully demonstrating our expertise with numerous pension funds for many years now,” continued Sandner.
Director Corporate CommunicationKarsten Wehmeier
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