Employees Retirement System of Texas Selects JPMorgan Worldwide Securities Services for Global Custody & Asset Services
New York, January 3, 2007 - The Employees Retirement System of Texas has selected JPMorgan Worldwide Securities Services to provide global custody and asset services for ERS’ more than $21 billion in assets.
“The Employees Retirement System of Texas has grown substantially and chose JPMorgan because it was the one firm that could provide for all our current and future needs,” said Kathy Ann Reissman, director of investments, Employee Retirement System of Texas. “JPMorgan offered us the best package of capabilities, the most efficient, sophisticated and highest quality reporting system and a top-notch local service team.”
The Employee Retirement System of Texas administers retirement plans for nearly 200,000 current and retired state employees and elected, judicial and law enforcement officials.
“JPMorgan is proud to have won ERS’ business again and extend a relationship that we have had since 1996,” said Edward Mollahan, senior vice president, JPMorgan Worldwide Securities Services. “ERS can take advantage of our latest initiatives with alternative investments and securities lending. They can also leverage the dynamic reporting tools in our VIEWS Portfolio Reporting platform, which is considered the best system in the industry.”
JPMorgan will provide a wide range of global custody services including: safekeeping, asset servicing, investment accounting, performance measurement and reporting, securities lending, transaction and corporate action processing, investment compliance and risk monitoring. JPMorgan will also become the provider of ERS’ official accounting records for its investment management and plan sponsor operations.
For more information on JPMorgan Worldwide Securities Services, go to www.jpmorgan.com/visit/pensions/public
About Texas ERS
The Texas Employees Retirement System is responsible for administering the state retirement plans for Texas public employees and state officials with an investment trust that is valued at more than $21 billion and nearly 200,000 active and retired members. ERS also manages the Texas Employees Group Benefit Program which provides health coverage to more than 500,000 state and certain higher education employees, retirees and their families.
About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $12.9 trillion in assets under custody. JPMorgan provides innovative custody, fund accounting and administration and securities services to the world’s largest institutional investors, alternative asset managers and debt and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 90 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.
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