John Lewis Partnership Pensions Trust Mandate Awarded
28 April 2010 London
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J.P. Morgan's Worldwide Securities Services business today announced that it has been awarded a mandate to provide custody and related services to The John Lewis Partnership Pensions Trust.
J.P. Morgan will provide custody, accounting, performance measurement, FX, compliance, cash sweep and securities lending services to The John Lewis Partnership Pensions Trust, which has in excess of £2 billion in total assets under management. The securities lending program was specifically designed to meet The John Lewis Partnership Pensions Trust requirements and brought together J.P. Morgan's firm-wide capabilities with its best-in-class solutions. The complex transition required global coordination with J.P. Morgan's borrower network to immediately meet the client's collateral investment funding requirements.
"We found J.P. Morgan's offering to be superior to its competitors, including the scope of its securities lending, accounting and performance measurement services, and have been very impressed with its highly efficient on-boarding program," said Andrew Chapman, The John Lewis Partnership's Pension Investment Manager.
Benjie Fraser, Practice Lead for J.P. Morgan Worldwide Securities Services' pension fund business in Europe, said: "We are delighted that The John Lewis Partnership has selected J.P Morgan to provide custody and related services to its pension fund. We are excited to be working with John Lewis and are very pleased to provide a full suite of products to meet the specific needs of this important UK pension fund as we continue to expand our work in this sector across Europe."
J.P. Morgan will provide custody, accounting, performance measurement, FX, compliance, cash sweep and securities lending services to The John Lewis Partnership Pensions Trust, which has in excess of £2 billion in total assets under management. The securities lending program was specifically designed to meet The John Lewis Partnership Pensions Trust requirements and brought together J.P. Morgan's firm-wide capabilities with its best-in-class solutions. The complex transition required global coordination with J.P. Morgan's borrower network to immediately meet the client's collateral investment funding requirements.
"We found J.P. Morgan's offering to be superior to its competitors, including the scope of its securities lending, accounting and performance measurement services, and have been very impressed with its highly efficient on-boarding program," said Andrew Chapman, The John Lewis Partnership's Pension Investment Manager.
Benjie Fraser, Practice Lead for J.P. Morgan Worldwide Securities Services' pension fund business in Europe, said: "We are delighted that The John Lewis Partnership has selected J.P Morgan to provide custody and related services to its pension fund. We are excited to be working with John Lewis and are very pleased to provide a full suite of products to meet the specific needs of this important UK pension fund as we continue to expand our work in this sector across Europe."
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