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.
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb when she officially resigns at the end of February.
The Reuters Pension Fund has completed a £625m full pensioner buy-in with Canada Life in the insurer's largest ever deal.
Anthony Arter will continue as head of The Pensions Ombudsman (TPO) until 31 July 2021, the Department for Work and Pensions (DWP) has announced.
The Nottinghamshire County Council Pension Fund has hired Kames Capital to run a £22m property mandate.