Somerset County Council Pension Fund, Taunton, England, hired J.P. Morgan Worldwide Securities Services as global custodian, confirmed Anton Sweet, funds and investments manager at the £1.2 billion ($1.9 billion) pension fund.
J.P. Morgan replaces BNY Mellon Asset Servicing. Mr. Sweet would not say whether BNY Mellon rebid.
No consultant was used. A search began in May 2011.