AP7, Stockholm, rehired Bank of New York Mellon as global custodian, said Svante Linder, chief operating officer of the fund.
BNY Mellon provides securities lending services alongside global custody and collateral services for AP7, which has assets of about $28.8 billion, Mr. Svante wrote in an e-mail.
Mr. Svante wrote that eight different banks responded to the RFP. BNY Mellon was first hired as custodian in 2006.
Mr. Svante said the fund had also hired J.P. Morgan as backup custodian. The assets remain under BNY Mellon's custody, but J.P. Morgan will step in if BNY Mellon were unable to continue as custodian.
