J.P. Morgan Ranked Top Custodian And Administrator In Luxembourg
London - J.P. Morgan today announced it is the largest custodian and fund administrator in Luxembourg, according to Lipper’s 16th Annual Luxembourg Fund Encyclopaedia.
The Lipper figures confirm that J.P. Morgan has more than $468 billion of assets under custody and more than $388 billion under administration, representing an 18% and 14% market share respectively. During 2009, J.P. Morgan’s assets under custody grew by 34%, and its assets under administration grew by 29%, due to significant asset growth in addition to attracting new business.
The strong market growth experienced in 2009 is due to increased investor confidence in the Luxembourg UCITS brand and improved market confidence following the economic challenges of 2008.
Susan Ebenston, Global Fund Services Executive for J.P. Morgan, said: “The Luxembourg fund industry experienced a year of strong growth as revealed in Lipper’s Luxembourg survey. J.P. Morgan’s top position in 2009 reflects a year of increasing fund consolidation as well as successful business partnerships with many of the world’s leading fund managers.”
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $15.3 trillion in assets under custody and $6.5 trillion in funds under administration. For more information, go to www.jpmorgan.com/visit/wss.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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