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HSBC first to land new LGPS custody brief

The Local Government Pension Scheme introduced a new framework last year to help its members procure easy access to professional services

HSBC has seen off competition from rival custodians to win the first mandate issued under the Local Government Pension Scheme's new framework for professional services.

HSBC Securities Services will act as custodian to the Norfolk, Suffolk and Hackney pension funds, according to a statement from HSBC and the Norfolk scheme.

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