J.P. Morgan Worldwide Securities Services Builds on Pension Custody Franchise
J.P. Morgan Worldwide Securities Services Builds on Pension Custody Franchise.
Royal Borough of Kingston-upon-Thames Pension Fund is the latest pension fund to appoint J.P. Morgan for securities services
London. - J.P. Morgan Worldwide Securities Services was appointed by the Royal Borough of Kingston-upon-Thames Pension Fund to provide global custody, fund accounting and performance measurement services for its £338 million pension scheme.
The mandate was a result of a review by the Borough. Prior to the review, J.P. Morgan provided custody services for the pension fund.
The mandate is the latest UK pension fund to appoint J.P. Morgan for custody and related services. Other pension fund clients of J.P. Morgan include Devon County Council, The Plumbing and Mechanical Services (UK) Limited Pension Scheme, Royal Borough of Kingston, Vodafone and County Durham, which appointed J.P. Morgan as its transition manager.
Benjie Fraser, head of business development and relationship management for J.P. Morgan Worldwide Securities Services’ European pension and charities business, said, “We welcome the opportunity to work with the Royal Borough of Kingston Pension Fund. This appointment and others of a similar size reaffirms our market position as the leading provider of custody and related services in the UK pension sector.”
Iain Miller, Head of Treasury Services for the Royal Borough of Kingston upon Thames Pension Fund, said: “After conducting a review and tender of custody providers, we are pleased to be working with a firm like J.P. Morgan that has the financial strength and product breadth to provide us with the services we need today and address requirements we may have in the future.”
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