JP Morgan today announced that JP Morgan Asset Management has agreed in principle to transition its existing Transfer Agency operations in the UK and Luxembourg to JP Morgan Worldwide Securities Services (WSS).
WSS already provides Transfer Agency services in Luxembourg and Dublin to many top tier asset management clients. The consolidated team and additional expertise will create greater scale in the Luxembourg operation, and enhances WSS's service offering by enabling it to offer a full UK Transfer Agency service to clients, by the end of 2009.
Susan Ebenston, Head of Global Fund Services in J.P. Morgan Worldwide Securities Services, said, "Rationalising J.P. Morgan's firm-wide Transfer Agency makes sense. This is a vote of confidence by J.P. Morgan Asset Management in our ability to offer quality outsourced Transfer Agency services, and signifies a firm wide commitment to Transfer Agency services from which all our existing clients will benefit. We are excited that we will now be able to offer full UK TA services to our clients, in addition to our existing services in Dublin and Luxembourg."