JP Morgan Worldwide Securities Services, the custody arm of the US bank, has been terminated from a £1bn (€1.45bn) custody mandate at the North Yorkshire Pension Fund. The loss follows others at Railpen and the Merchant Navy Officers Pension Fund.

The fund has selected ABN Amro Mellon Global Securities Services, the custody joint venture, to provide custody, investment accounting and performance measurement services in JP Morgan's place, following a six-month selection process.

JP Morgan cut from £1bn North Yorkshire fund mandate

Mark Cobley

JP Morgan

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