U.K. trust taps JPMorgan

Wellcome Trust, London, hired JPMorgan Worldwide Securities Services to provide global custody for the £13.9 billion ($26.7 billion) charitable foundation, according to JPMorgan spokeswoman Juliana Wheeler. The previous global custodian was State Street Bank. JPMorgan will also provide other related services including passive currency management, Ms. Wheeler said. Sandra Robertson, co-head of portfolio management at Wellcome Trust, could not be reached for comment by press time.