Fund-Technology.com

JPMorgan largest fund administrator in Luxembourg

Posted: 29 April 2008

JPMorgan Bank Luxembourg S.A. is the largest custodian and
fund administrator in Luxembourg, according to the latest figures from Fitzrovia, the independent data firm.

JPMorgan's Luxembourg assets under administration are $351 billion and assets under custody were $439 billion. JPMorgan has been the largest custodian in the region according to the survey for the past eight years.

Susan Ebenston, head of Global Funds Services products for JPMorgan Investor Services, said, "Driven by an increase in global demand
as well as one of the highest standards of service quality in the region, our
Luxembourg business experienced another year of strong growth. Our commitment to the market and successful partnerships with many of the world's leading fund managers has enabled us to continually lead the Fitzrovia survey."

Sanjiv Sawhney, Managing Director of JPMorgan Bank Luxembourg, said, "The Luxembourg marketplace and our clients have led the way with more complex products: hedge funds, 130/30 funds, SIF, and tax transparent funds. We are continuously upgrading our service offering to support the growth and innovation of our clients."

JPMorgan has been in Luxembourg for 35 years, and has grown significantly following the implementation of UCITS (Undertakings for the Collective Investment of Transferable Securities). The Investor Services
business employs over 500 staff from 25 different nationalities. 

Along with more than 300 people who are part of JPMorgan Asset Management, it makes Luxembourg the largest JPMorgan location in continental Europe.

Click here for more information on Luxembourg

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