Merseyside Pension Fund, Liverpool, England, hired Northern Trust as global custodian, according to a spokesman for the £5.2 billion ($8.3 billion) pension fund.
Northern Trust will replace State Street Corp., whose contract expires on Jan. 1. It was not known if State Street rebid.
The global custody mandate will cover about £4.5 billion of Merseyside's assets, excluding investments such as direct real estate, according to the spokesman.
