US - J.P. Morgan Worldwide Securities Services has been selected by the Maine Public Employees Retirement System (MainePERS) to provide custody and securities services for the State's $10.5bn in assets.
J.P. Morgan will provide a range of custody and securities services including: global custody, fund accounting, performance analytics, alternative asset administration, compliance monitoring, securities lending, transition management, foreign exchange, and cash management.
MainePERS chief investment officer Andrew Sawyer said: "We chose J.P. Morgan because they offer the complete breadth of services we require. We are impressed with the strength of the firm, their commitment to the public pension market -- and we believe they have the right combination of customer service and technology to provide the best service for our funds.
"In addition, as MainePERS looks to increase our allocation into alternative investments, J.P. Morgan clearly has the expertise and tools to provide the administration, reporting, and transparency that we desire."
J.P. Morgan Worldwide Securities Services head of new business development - Americas Robert Caporale added: "This is the latest in a series of J.P. Morgan deals in the public pension space, demonstrating our commitment to this important market segment."
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.