Devon County Council Pension Fund, Exeter, England, hired Northern Trust to provide global custody and securities lending services, said Mark Gayler, assistant county treasurer at Devon County Council.
The £3 billion ($5.1 billion) pension fund's new contract begins Sept. 1, Mr. Gayler said in an e-mail. The pension fund's current custodian is J.P. Morgan Worldwide Securities Services, he said.
The pension fund made the appointment through the National LGPS Global Custodian Framework, a procurement service run by the local government pension schemes in the U.K., which compiled a preapproved list of custody and asset servicing providers last year.
