A method of forming a CPP-GMR spin valve having a pinned layer with an AP2/coupling/AP1 configuration is disclosed wherein the AP2 portion is a FCC-like trilayer having a composition represented by CoZFe(100-Z)/Fe(100-X)TaX/CoZFe(100-Z) or CoZFe(100-Z)/FeYCo(100-Y)/CoZFe(100-Z) where x is 3 to 30 atomic %, y is 40 to 100 atomic %, and z is 75 to 100 atomic %. Preferably, z is 90 to provide a face centered cubic structure that minimizes electromigration. Optionally, the middle layer is comprised of an Fe rich alloy such as FeCr, FeV, FeW, FeZr, FeNb, FeHf, or FeMo. EM performance is improved significantly compared to a spin valve with a conventional AP2 Co50Fe50 or Co75Fe25 single layer. MR ratio is also increased and RA is maintained at an acceptable level. The coupling layer is preferably Ru and the AP1 layer may be comprised of a lamination of CoFe and Cu layers as in [CoFe/Cu]2/CoFe.