After a competitive selection process, TIAA-CREF has selected JPMorgan Investor Services as custodian for its mutual funds, institutional business and its life business. Those products represent $4.2 billion of assets according to the New York City-based firm.

A key factor in the decision was the long-standing relationship between TIAA-CREF and the unit of JP Morgan Chase. "With our relationship dating back to 1979, JPMorgan is committed to providing continued superior client service and we look forward to contributing to TIAA-CREF's success in the years ahead," said Mary C. Orr, senior vice president of client relationship management, JPMorgan Investor Services, in a release.

"Over the years we have developed a strong relationship with JPMorgan, and we are confident that JPMorgan Investor Services has the resources and capabilities to meet our needs," said Richard Adamski, vice president and treasurer, TIAA-CREF, in a release.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE