UK - The £3.6bn London Pensions Fund Authority (LPFA) has re-appointed JPMorgan as its global custodian.
JPMorgan has provided custody services for LPFA since 1991 and also provides accounting, performance measurement and securities lending services.
The move continues JPMorgan’s strong performance in the UK custody space, achieving over £18bn in new UK pension custody wins in the fourth quarter 2006.
That success was replicated in the US market, where in the last two months JPMorgan was appointed to provide custody and asset services for around US$113bn in pension assets.
Partner Insight: Members' evolving needs and expectations are driving changes in scheme administration. As the pensions landscape inevitably continues to change, how will your scheme's approach need to develop to keep pace?
The Pensions Regulator (TPR) is "working closely" with government contractor Interserve and the trustees of its defined benefit (DB) pension schemes, it has confirmed.
The industry has welcomed the Department for Work and Pensions' (DWP) consultation on defined benefit (DB) consolidation as a way to address scheme covenant issues.
BMO Global Asset Management has opened a UK fiduciary management business, promising a "truly open architecture" approach to deliver "better client outcomes".