Lifeyrissjodur Verzlunarmanna, Reykjavik, Iceland, has hired J.P. Morgan Chase & Co.'s securities services unit as its asset servicing provider, the pension fund announced.
Services provided will include global custody, fund accounting, foreign exchange, and performance, risk and compliance reporting, across LV’s securities portfolio.
After a tender process, J.P. Morgan was formally hired in the end of 2024, with portfolio transitions occurring in 2025.
“We chose J.P. Morgan as our partner due to their broad service offering, international experience, and solutions that can grow with us into the future,” said Arne Vagn Olsen, chief investment officer at LV, in a news release.
As of Dec. 31, LV had about Icelandic kronur 1.4 trillion ($10.9 billion) in assets.
