NEW YORK and LONDON, July 1/PRNewswire/ -- JPMorgan Chase & Co. (NYSE: JPM) today announced that the UK investment
operations services currently provided by JPMorgan to Schroders on its operating platforms will be transferred to Schroders.
Since 2000, JPMorgan and Schroders collaborated on development of a new operating platform to support Schroders' investment operations. After a rigorous review, the firms concluded that their individual operating models are no longer sufficiently aligned to continue the investment operations outsourcing project effectively. JPMorgan will make a payment to Schroders of approximately GBP20 million.
The mutual decision on this project does not affect any other aspects of the long-standing relationship shared by JPMorgan and Schroders. JPMorgan will continue in its existing relationship to support the Schroders franchise for custody, accounting and other services.
JPMorgan is a leading innovator in investment operations outsourcing. The firm recently achieved the successful completion of other outsourcing transactions in the marketplace, and views the full scope of outsourcing services as a critical component of its offering to clients worldwide.
"We value our long-standing relationship with Schroders and we will continue to work together to add value to both firms," said Michael Clark, head of JPMorgan Worldwide Securities Services. "This mutual decision positions JPMorgan's business for long-term growth through a relentless focus on delivering value to clients."
Calypso voted the best software solution and best buy-side collateral management solution of the year by FTF Calypso Technology Inc., a leading provid...View article
Calypso Technology, Inc. is sponsoring the Central Banking Summer meetings from June 14th to June 18th, 2021! Herve de Laforcade, Global Head of Marke...View article
Manchester, UK, 10 June, 2021: AccessPay is now available to hundreds of thousands of Sage users through their online marketplace.The fast-growing Man...View article