AP2, Gothenburg, Sweden appointed J.P. Morgan Chase & Co. as global custodian, a spokeswoman confirmed.
J.P. Morgan will provide global custody, trade matching, securities lending and collateral management across AP2's equity and fixed-income portfolios. The value of assets could not immediately be learned.
"J.P. Morgan's global franchise, cross-product expertise and innovative solutions helped us decide they were the right partner for AP2. Their scalable platform, integrated solutions, and expert service delivery will help us deliver on our long-term objectives," Ola Eriksson, COO at AP2, said in a news release Monday.
AP2's previous custodian was Northern Trust. Further details were now immediately available.
AP2 had 407.1 billion Swedish kronor ($39 billion) in assets as of Dec. 31.
