Coal Pension Trustees Services, Sheffield, England, selected Northern Trust to provide global custody, oversight and governance for its two pension funds, Janka Unsworth Deckerova, head of financial operations at CPTS, confirmed.
Northern Trust will also provide data solutions, investment analytics, valuation reporting, performance measurement, securities lending and foreign exchange services to the £9.5 billion ($13.4 billion) British Coal Staff Superannuation Scheme and the £11.7 billion Mineworkers' Pension Scheme.
"(Northern Trust's) ability to provide high-quality data to support our public and private market investments, as well as our evolving operating model and data strategy, were among the reasons for this appointment," Ms. Unsworth Deckerova said in a news release Monday.
Northern Trust replaced J.P. Morgan Chase.
An RFP was issued in August 2019. J.P. Morgan also reapplied, Ms. Unsworth Deckerova said.