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Rating:Squeeze Play Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, February 07, 2001

Squeeze Play

Reported by Alfred Wang

JP Morgan Investor Services launched the entire range of ETF services, counting the Vanguard Group's custody of $157 billion in assets as the first stream of business.

The account for six mutual funds was taken from State Street, including the custodial services for Vanguard's ETF shares, known as VIPERS.

According to George Evans, senior vice president and global business development executive, the new business is part and parcel of a new strategy to move on the global ETF marketplace: using the firm's global infrastructure to up the barriers of entry to the marketplace of high-end back office services, while partnering with the largest companies as consolidation shrinks the number of players.

"This is not a product play" said Mary C. Orr, senior vice president and group executive for global funds services. "[We're] confident that this product will be definitional in the marketplace." 

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