Hampshire County Council Pension Fund, Winchester, England, hired J.P. Morgan Worldwide Securities Services as global custodian for the £3.8 billion ($6.1 billion) pension fund.
Northern Trust was the previous custodian, said Suzie Southgate, council spokeswoman. The firm had rebid.
J.P. Morgan will provide trade settlement, proxy voting, investment accounting, performance measurement, foreign exchange and cash management among other services.
The five-year contract has an extension option for an additional five years, Ms. Southgate said. The tender was issued in December because Northern Trust’s contract had expired.