Nordea Bank awarded JPMorgan Worldwide Securities Services a $28 billion mandate Wednesday, further extending the custody services JPMorgan provides the bank.
Under the mandate, JPMorgan will manage Nordea’s global custody of international fund and private client assets.
“This extension of the services we already provide for Nordea Luxembourg is a testament to the business we have built in Luxembourg, which was the first to reach $250 billion of assets under custody,” says Conrad Kozak, securities company executive at JPMorgan.