Swedish state pension fund AP2 has selected J.P. Morgan to provide asset servicing to its Andra AP Fonden. Assets are expected to be transitioned before the end of 2023.
AP2 currently holds SEK 290 billion in assets under custody across full equity and fixed income portfolios.
J.P. Morgan’s services include global custody, trade matching, agency securities financing and collateral management.
Ola Eriksson, chief operating officer at AP2, says: “J.P. Morgan’s global franchise, cross-product expertise and innovative solutions helped us decide they were the right partner for AP2. Their scalable platform, integrated solutions, and expert service delivery will help us deliver on our long-term objectives.”
Allan Nedergaard, Nordic head of platform sales at J.P. Morgan, comments: “J.P. Morgan is proud to begin our partnership with AP2, and support their objective to maximise operational efficiencies. This new mandate reinforces our position as the leading securities services provider for institutional clients in the Swedish and wider Nordics market.”
