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."