Somerset County taps J.P. Morgan as global custodian

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.