Hewitt Delegated Consulting Services has awarded JP Morgan’s Worldwide Securities Services business a mandate to provide custody and related services to its pan-European defined benefit pension schemes.
JP Morgan will provide custody, transition management, accounting, performance measurement, foreign exchange (FX), compliance, securities lending and trustee services to support Hewitt pension fund clients throughout Europe, three of which, with a total of more than £450m in assets under management, are already using JP Morgan’s services.
“We were impressed by JP Morgan’s offering and particularly its breadth of capabilities for supporting alternative investment strategies. We especially like its ability to efficiently on-board new pension fund assets in a low risk environment,” said Zuhair Mohammed, chief executive officer (CEO) of delegated consulting services at Hewitt.
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