J.P. Morgan Mandate Win
29 April 2010 London
Image: Shutterstock
J.P. Morgan's Worldwide Securities Services business has been awarded a mandate to provide custody, securities lending and related services to pan-European defined benefit pension schemes advised by Hewitt Delegated Consulting Services.
J.P. Morgan will provide custody, transition management, accounting, performance measurement, FX, compliance, securities lending and trustee services to support Hewitt pension fund clients throughout Europe, three of which, with a total of more than GBP 450 million in assets under management, are already using J.P. Morgan's services.
Hewitt Delegated Consulting Services allow pension scheme investment specialists to manage and execute a scheme's investment policy efficiently. The trustees still set the strategic framework and provide regular oversight, but the service then manages and executes the investment strategy against strict parameters. As a result, a scheme benefits from rapid responses to changing market and/or solvency conditions, and can take opportunities to lock in gains.
J.P. Morgan's solution set was designed to meet Hewitt's highly sophisticated requirements and brought together J.P. Morgan's firm-wide capabilities. The complex solution demonstrates the depth of industry expertise within J.P. Morgan to immediately meet the requirements of operating a multi-manager investment strategy.
"We were impressed by J.P. Morgan's offering and particularly its breadth of capabilities for supporting alternative investment strategies. We especially like its ability to efficiently on-board new pension fund assets in a low risk environment," said Zuhair Mohammed, Chief Executive of Delegated Consulting Services at Hewitt.
Benjie Fraser, Pensions Practice Lead in Europe for J.P. Morgan Worldwide Securities Services' pension fund business in Europe, said: "We are delighted to have the opportunity to strengthen our relationship with Hewitt through this innovative programme. We are excited to further enhance our service capabilities to meet the specific needs of fiduciary managers as we continue to expand our work in the pensions sector across Europe."
J.P. Morgan will provide custody, transition management, accounting, performance measurement, FX, compliance, securities lending and trustee services to support Hewitt pension fund clients throughout Europe, three of which, with a total of more than GBP 450 million in assets under management, are already using J.P. Morgan's services.
Hewitt Delegated Consulting Services allow pension scheme investment specialists to manage and execute a scheme's investment policy efficiently. The trustees still set the strategic framework and provide regular oversight, but the service then manages and executes the investment strategy against strict parameters. As a result, a scheme benefits from rapid responses to changing market and/or solvency conditions, and can take opportunities to lock in gains.
J.P. Morgan's solution set was designed to meet Hewitt's highly sophisticated requirements and brought together J.P. Morgan's firm-wide capabilities. The complex solution demonstrates the depth of industry expertise within J.P. Morgan to immediately meet the requirements of operating a multi-manager investment strategy.
"We were impressed by J.P. Morgan's offering and particularly its breadth of capabilities for supporting alternative investment strategies. We especially like its ability to efficiently on-board new pension fund assets in a low risk environment," said Zuhair Mohammed, Chief Executive of Delegated Consulting Services at Hewitt.
Benjie Fraser, Pensions Practice Lead in Europe for J.P. Morgan Worldwide Securities Services' pension fund business in Europe, said: "We are delighted to have the opportunity to strengthen our relationship with Hewitt through this innovative programme. We are excited to further enhance our service capabilities to meet the specific needs of fiduciary managers as we continue to expand our work in the pensions sector across Europe."
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