J.P. Morgan Awarded Asset Servicing Mandate by Bpf GIL
Amsterdam, - J.P. Morgan Worldwide Securities Services (WSS) today announced it has been appointed to provide securities administration services to Stichting Bedrijfstakpensioenfonds voor de Groothandel in Levensmiddelen (Bpf GIL), further expanding J.P. Morgan’s securities services business with Dutch pension funds.
J.P. Morgan was appointed as global custodian for Bpf GIL, which has a total value of approximately €500 million, following a selection process conducted by Aon Hewitt.
John Gout, Market Manager for the Benelux region, J.P. Morgan Worldwide Securities Services, said: “We’re delighted to work with Bpf GIL as we continue to demonstrate our local commitment and execute on our strategy of enabling pension funds to be in control of their business.”
Benjie Fraser, Practice Lead for J.P. Morgan Worldwide Securities Services’ pension fund business in Europe, said: “J.P. Morgan continues to demonstrate its commitment to the Dutch pension fund market in particular, and the European market in general. Working with Bpf GIL demonstrates the depth of our experience and our ability to provide tailored pension board reporting.”
Boudewijn Heineman, Chairman of the Investment Committee at Bpf GIL, added: “We are pleased to have appointed J.P. Morgan as global custodian and we value their extensive expertise in the local Dutch market which, combined with their unparalleled global reach, will bring significant value to our business.”
About Bedrijfstakpensioenfonds voor de Groothandel in levensmiddelen (Bpf GIL)
Bpf GIL was founded in 1964 and currently has assets under management of approximately €500 million. The plan currently unites 406 employers and has 47, 224 participants.
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. Worldwide Securities Services leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $16.6 trillion in assets under custody and $7.1 trillion in assets under administration. For more information, go to www.jpmorgan.com/visit/wss.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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