The State of New Mexico has transferred USD40bn of assets from Northern Trust to J.P. Morgan, which will provide a range of custody and securities services including global custody, fund accounting, asset and alternative investment servicing, compliance reporting, foreign exchange, cash management and performance analytics.James B. Lewis, New Mexico State Treasurer, said: "We chose J.P. Morgan because they offer the complete breadth of services we require. The firm scored well during the RFP committee evaluation of J.P. Morgan's proposal, based on the criteria established for the state's custodial service requirements. We are impressed with the strength of the firm, their commitment to the public pension market - and we believe they have the right combination of customer service and technology to provide the best service for our funds."
