The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:J.P. Morgan Chooses BONY Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, April 22, 1999

J.P. Morgan Chooses BONY

Reported by Jason Shank

J.P. Morgan reports that as part of a review of the optimal way to deliver securities portfolio accounting services to its institutional, private client, and mutual fund clients, The Bank of New York has been appointed to provide these services, including recordkeeping and market valuation, for Morgan's asset management business.

The company states that "with world markets becoming more connected and trade-processing times continuing to decrease, a single, integrated, state-of-the-art platform is critical to delivering the most efficient and highest quality service to clients." A company spokeperson added that in order to concentrate on what it does best, investment management, and after substantial due diligence on the costs and benefits involved, outsourcing of the services was the best decision.

"We have enjoyed a long-standing relationship with The Bank of New York and believe that its technology, vision, and capabilities are an excellent match with our business objectives," said John Schmidlin, head of technology and operations for Morgan's asset management business. "As an investment management firm, our focus is on providing clients with the best possible service and generating the strongest possible returns. Our relationship with The Bank of New York will enable us to do what we do best while fully supported by state-of-the-art technology."

Thomas J. Perna, senior executive vice president, The Bank of New York, commented, "We are pleased that J.P. Morgan, our valued client, has shown continued confidence in our ability to provide the information-based solutions that allow it to focus on its core businesses. This appointment underscores our capability and commitment to deliver services that provide integrated solutions to the investment and fund management community." 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use