UK - JPMorgan Worldwide Securities Services has secured five custody mandates from small pension funds.
The provider has replaced Schroders and Bank of New York to consolidate the assets of the £354m Pilot’s National Pension Fund after due diligence was carried out by Thomas Murray.
JPMorgan Worldwide Securities Services head of UK pensions and charities, Benjie Fraser, said: “We welcome the opportunity to work with pension funds of all sizes, as part of our stated full-scale commitment to this industry.”
The £20m Kingston Communications pension fund, with around 3,000 members appointed the group as its custodian with a new mandate.
ArvinMeritor UK, House of Fraser and Lend Lease UK also awarded mandates to JPMorgan Worldwide Securities Services.
In a separate development, the company announced it had expanded its presence in Amsterdam to exploit the Dutch pensions market, last week.
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