JPMorgan acquired Tasc Administration (Pty) Ltd (Now trading as JPMorgan Investor Services) earlier this year from Sanlam Limited and will continue to focus on institutional asset administration. JPMorgan Investor Services is South Africaâs largest independent third party administrator and has 15 clients with approximately R340 billion in assets under administration.
"Our migration from HiPortfolio/2 to HiPortfolio/3 is due to the incremental growth JPMorgan Investor Services has experienced in the asset administration market," commented Hank Pienaar, managing director at JPMorgan Investor Services. "HiPortfolio/3 allows greater scalability, enhanced application resilience and recovery and will make the data within the system far more accessible using industry standard methods."
Mr Pienaar continued, "Our ability to leverage our technology and skills will enhance our strategy of establishing a scaleable platform to support our investor services growth objectives in South Africa."
Marisa Bellini, DSTiâs South Africa director, said, "DSTi and JPMorgan Investor Services have established a solid technological relationship in South Africa for some time and we are pleased that HiPortfolio/3 is able to meet their exacting requirements. JPMorgan Investor Services has chosen HiPortfolio/3 to widen their systemâs reporting capabilities and to extend and improve its connectivity with other systems."