Searches and Hires

North East Scotland Pension Fund taps HSBC as global custodian

North East Scotland Pension Fund, Aberdeen, hired HSBC Securities Services to provide global custody, according to pension committee documents.

HSBC will provide investment accounting, investment reporting, securities lending performance services and compliance monitoring to the £4.2 billion ($5.6 billion) pension fund.

Northern Trust previously provided global custody to the pension fund.

A spokeswoman could not be reached to provide additional details.