US - JPMorgan Investor Services announced that it has been selected by the ChevronTexaco Corporation as master custodian for the corporation's $5bn pension plan following a competitive review.
Tom Swayne, JPMorgan Investor Services executive vice president, said: We are pleased to announce this win today and are looking forward to serving as master custodian for the combined ChevronTexaco Master Trust – one of the world’s great energy corporations.
This selection further confirms JPMorgan Investor Services’ premiere level of client service, industry performance and professional expertise.
ChevronTexaco’s general manger of benefit plan investments, David Smay, adds, We have chosen JPMorgan Investor Services as our new custodian following a strategic review that revealed the high-level of professional knowledge and insight that we feel is essential to servicing our employee pension plans.
We anticipate a strategic, long-term relationship with JPMorgan Investor Services. JPMorgan has the type of global custody platform we need and a very robust web-based electronic information system for obtaining current asset values and performance data.
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