Award of Custody and Investment Operations Outsourcing Services to Northern Trust and JPMorgan Chase by Pension Protection Fund
Pension Protection Fund · Awarded contract
AwardedAward of Custody and Investment Operations Outsourcing Services to Northern Trust and JPMorgan Chase by Pension Protection Fund
Awarded 31 Aug 2022
Awarded31 Aug 2022
Value£53,000,000.00
AgencyPension Protection Fund
RegionLondon
CategoryFinance & Insurance
Expires in 5y 10mo10y term, 42% elapsed
Awarded 31 Aug 2022Expires 30 Aug 2032
About
Pension Protection Fund awarded a contract to The Northern Trust Company and JPMorgan Chase Bank for Custody and Investment Operations Outsourcing (IOO) Services.
The scope includes custodian services, fund accounting, and transfer agency services (unitisation).
A second or reserve custodian may also be appointed to manage some of the PPF's assets, with the exact amount to be confirmed.
The total contract length is based on a maximum possible term of 10 years, with an initial contract term of 5 years for Custody and 3 years for IOO.
The contract value is £53,000,000, based on the initial and maximum contract terms, to be spread across the primary and reserve/secondary custodian, with the exact split unknown at this stage.
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Award of Custody and Investment Operations Outsourcing Services to Northern Trust and JPMorgan Chase by Pension Protection Fund
Won by The Northern Trust Company,JPMorgan Chase Bank · Pension Protection Fund
£53.0Mawarded
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