MLIM gains credibility in profitable Dutch pension market with Royal Philips purchase

Merrill Lynch Investment Managers (MLIM) has bolstered its position in the lucrative Dutch pension m...

Merrill Lynch Investment Managers (MLIM) has bolstered its position in the lucrative Dutch pension market by acquiring the internal investment management units of Royal Philips Electronics. The transaction, part of a strategic partnership with the Philips Pension fund, includes a seven-year contract to manage $16bn on its behalf. Maarten Slendebroek, head of sales for CEMEA at MLIM, said: "The Netherlands is the second biggest pension market in Europe after the UK. This acquisition will make Merrill Lynch the largest non-domestic active manager in the country and will also give potential ...