Custodian reappointment

Professional Associations Super reappoints J.P. Morgan as custodian of the fund

Following a recent review, Professional Associations Super has reappointed J.P. Morgan as its master custodian for a further three-year term.

The company was reappointed on the basis of their strong performance in the past three years, with Paul Kessell, Chief Investment Officer of Professional Associations Super, commending J.P. Morgan on their work to date.

“J.P. Morgan has done a great job in this role. They’ve built a strong partnership with us based on their proactive approach and they’ve contributed to the fund at a strategic level,” said Mr Kessell.

“They provide high quality products and services, which are scalable and can grow with us. J.P. Morgan’s breadth of experience also means they provide solutions which can handle our specific requirements,” he said.

“Given this, and their commitment to service excellence, reappointing them was an easy decision.”

Bryan Gray, Managing Director and Head of Client Relationships and Sales at J.P. Morgan, said the organisation was extremely pleased to be reappointed to the role.

“We’re proud of our association with Professional Associations Super, and are delighted to continue our relationship. We’re committed to assisting the Fund in offering a comprehensive service to its members,” said Mr Gray.

J.P. Morgan will continue to provide a full range of master custodian services to Professional Associations Super, including accounting, custody and performance reporting. The company was initially appointed to the role in June 2008, and the appointment is reviewed every three years.

As part of a regular review of its service providers, Professional Associations Super also recently reappointed Towers Watson as the fund’s investment consultant.