JPMorgan Is First 3rd Party Administrator In Luxembourg To Reach $200 Billion Mark
Luxembourg, 14 December 2005 – JPMorgan Bank Luxembourg S.A. today announced it is the first 3rd party Luxembourg fund administrator to have $200 billion of assets under administration. Earlier in the year JPMorgan, which has a long-standing commitment to the market, was also the first to reach $250 billion of assets under custody.
In addition to the significant asset growth, JPMorgan continued to attract new business during 2005. During the year JPMorgan added 100 new funds, a 25% increase to 493 funds, which includes the implementation of four large fund manager clients.
JPMorgan has been in Luxembourg for 32 years, and has grown significantly following the implementation of UCITS (Undertakings for the Collective Investment of Transferable Securities). The business employs 500 staff, with representatives of 25 different nationalities.
About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is the global industry leader with $11 trillion in assets under custody. JPMorgan provides innovative custody and securities products and services to the world’s largest institutional investors and debt and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 80 markets to help clients optimize efficiency, mitigate risk and enhance revenue through custody and investor services as well as securities clearance and trust services.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.2 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. has its corporate headquarters in New York and its U.S. retail financial services and commercial banking headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com
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