JPMorgan Wins Cavali Custody Contract
Peru Central Depository is latest JPMorgan win in Latin America
New York, March 2008 - JPMorgan today announced that it will be providing securities services to Cavali, Peru’s Central Securities Depository. The contract is the latest in a string of wins the firm has had in Latin America.
JPMorgan Securities Company (SC) will be providing custody and asset administration services to Cavali for its portfolio of global securities. JPMorgan also provides services to several other central depositories, central banks, commercial banks, government institutions and corporations in the Latin America region.
“We selected JPMorgan due to its strong commitment, experience and focus in Latin America. JPMorgan’s modern technology and online reporting as well as local language capabilities will help us improve operating efficiencies and allow us to capitalize on new opportunities in the market,” said Francis Stenning, President and CEO of Cavali.
In addition to Cavali, Peru’s Central Depository, JPMorgan has also recently been awarded custody business by CEDEVAL (Central Securities Depository of El Salvador).
“JPMorgan is well positioned to become the securities service partner of choice for Latin America,” said Chris Lynch, head of Western Hemisphere sales for JPMorgan SC. “We, as part of a global franchise, have all the tools, products and services that clients will need to help them manage their global investment activities.”
JPMorgan offers a wide range of custody and treasury services, including cash management, global custody, performance measurement, transition management and securities lending, as well as accounting-related solutions and investment compliance services. JPMorgan SC has a dedicated, experienced and multilingual custody services team for clients in Central and Latin America. Alfredo Salamanca, the sales executive for the region, is reaching out to central banks and depositories, governments, pension funds, banks and corporations in the region.
The JPMorgan SC’s Latin America team also builds on a long and active partnership with JPMorgan Chase Treasury Services (TS) in the region which offers payment, collection, liquidity and investment management, trade finance, logistics, commercial card and information solutions for the region.
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