Honeywell appoints J P Morgan for measurement
UK – The trustees of the 606 million euro UK pension scheme of automation and control systems company Honeywell have appointed J P Morgan Investor Services to provide performance measurement and analytical services.
“We were delighted to be given the opportunity to show Honeywell the flexibility of our reporting capabilities, our focus is totally on a customer-driven solution rather than providing reports in excess of their requirement,” said David Webb, head of performance measurement at J P Morgan Investor Services in Europe.
Financial terms of the arrangement were not disclosed. Honeywell had previously used Frank Russell Co. and Russell/Mellon CAPS for performance measurement.
“J P Morgan provide reports when we want them and to our pre-determined specification which means that we can pass them on directly to our trustees, either in hard copy or electronic format, without any revamping at all,” said Honeywell’s director of pensions Linda Oxberry.
“We had a trial period with J P Morgan and we were very pleased with the service they provided.”
J P Morgan Investor Services is part of J P Morgan Chase & Co.