JP Morgan and Milestone Group in Global Fund Processing Deal

London – 10 October 2006

JP Morgan Chase today announced that it has commenced implementation of Milestone Group’s pControl fund processing platform in the UK as part of a global rollout plan.

JP Morgan Chase will initially use pControl to automate complex pre and post-pricing validations and fundof- fund unit pricing for UK based clients. It will also use the software to support growth in a range of related fund processing functions as part of its fund manager outsourcing platform.

Susan Ebenston, Senior Vice President, JP Morgan Chase said, “We were impressed with Milestone Group’s understanding of this area of our business and their commitment to genuine innovation. pControl is viewed as a strategic component of our overall delivery architecture.”

pControl enables JPM to automate and so give scalability to some complex aspects of it’s fund processing.

pControl was identified as the best solution to support growth in complex fund structures and JP Morgan Chase were attracted by the unique features of pControl and its ability to be deployed as a global solution.

The solution will seamlessly integrate with current infrastructure and provides complete flexibility to cater for the varying needs of its diverse and growing client base.

JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $11.5 trillion in assets under custody. JPMorgan provides innovative custody and securities services as well as clearance and asset services to the world’s largest institutional investors and debt and equity issuers. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries.

pControl will also be used as part of JPMorgan Chase’s service capability underpinning its recently announced success in securing the outsourcing of Threadneedle’s Investment Operations.

Commenting on the contract, Geoff Hodge, CEO of Milestone Group said, “We are delighted to have the opportunity to work with a client of JP Morgan Chase’s standing on a global basis. We see JP Morgan Chase’s use of pControl as a core platform component as confirmation of pControl’s ability to deliver scalability and efficiency to fund managers and major service providers administering an expanding spectrum and volume of fund structures.”

Milestone Group is a market leader in fund processing and analytics solutions specialising in cost and risk reduction through automation of back and middle office functions associated with complex fund product structures.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development