Following The Mineworkers Pension Scheme’s recent benchmarking exercise and review, the Scheme has agreed to retain JPMorgan Worldwide Securities Services (WSS) as their 10.5 billion scheme’s custodian.
“We are delighted to continue our relationship with JPMorgan Worldwide Securities Services for The Mineworkers Pension Scheme,” says David Morgan, Chief Executive of the Scheme. “We think JPMorgan provides us with high quality of service and great value.”
The Mineworkers Pension Scheme has assets of 14 billion providing pensions to 290,000 former industrial employees of British Coal. Thomas Murray Limited assisted in the review.
“After The Mineworkers Pension Scheme conducted a thorough review and considered their options, the pension funds’ trustees reappointed JPMorgan as their global custodian,” says Richard Warne, head of relationship management at JPMorgan Worldwide Securities Services in Europe, Middle East and Africa. “The appointments reaffirm our market position as the leading provider of custody services in the UK pension sector.”