The Third and Second Swedish National Pension Funds selects Northern Trust as global custodian after co-operating on procurement process

The Third (AP3) and Second Swedish National Pension Fund (AP2) has jointly performed a procurement of Global Custody Services during 2014 and 2015 and have now decided to award the contract as Global Custodian to Northern Trust for each of the funds.By conducting a joint procurement AP3 and AP2 could streamline the process by, among other things, sharing experience on operational processes. Further the cooperation created a good position for the funds in respect of negotiations with participants in the procurement.The procurement was started jointly with an option for the funds to select