J.P. Morgan is Top Custodian and Fund Administrator in Luxembourg for 9th Year Running
Luxembourg - J.P. Morgan Bank Luxembourg S.A. today announced that it is the top custodian and fund administrator in Luxembourg, according to the latest figures from Lipper, the independent data firm. As of 31 December 2008, J.P. Morgan’s Luxembourg assets under administration were $301 billion and assets under custody were $349 billion. J.P. Morgan has been the largest custodian in the domicile, according to the survey, for the past nine years.
Susan Ebenston, head of Global Funds Services products for J.P. Morgan Worldwide Securities Services, said, “We have been partnering with clients to help them preserve the integrity of their funds and operations against the unprecedented challenges created by recent volatile markets. By allowing us to anticipate and fully meet our clients’ needs in these difficult times, these close partnerships-as well as robust systems and procedures-have been critical in enabling us to help our institutional clients navigate this environment. As a result, we have been able to maintain our leadership in the Lipper survey.”
Sanjiv Sawhney, Managing Director of J.P. Morgan Bank Luxembourg, said, “We are delighted to maintain our number one ranking in the second largest funds’ domicile in the world. In these challenging market conditions we continue to upgrade our service offering to meet the changing needs of our client base.”
J.P. Morgan has been in Luxembourg for more than 35 years, and has grown significantly following the implementation of UCITS (Undertakings for the Collective Investment of Transferable Securities). The Worldwide Securities Services business employs over 500 staff from 25 different nationalities. Along with more than 300 people who are part of J.P. Morgan Asset Management, it makes Luxembourg the largest J.P. Morgan location in continental Europe.
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 $13.2 trillion in assets under custody and $3.7 trillion in funds under administration. For more information, go to www.jpmorgan.com/visit/wss.
About J.P. Morgan Chase & Co.
J.P. Morgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 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, J.P. Morgan Chase 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 the firm is available at www.jpmorganchase.com.
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