J.P. Morgan Expands Prime Custody Service
J.P. Morgan has expanded its Prime Custody service to make it available to hedge fund clients of its European Prime Brokerage business.
The Prime Custody service enables clients to segregate securities using a bank custodial account, while taking advantage of the capabilities of J.P. Morgan’s prime brokerage offering, delivered through a fully integrated product suite.
J.P. Morgan’s Prime Custody platform leverages two J.P. Morgan franchises: J.P. Morgan Worldwide Securities Services (WSS) and J. P. Morgan Prime Brokerage. The integrated Prime Custody offering includes efficient movement of securities between Custody and Prime Brokerage accounts, consolidated reporting, a single client-facing technology portal and a dedicated client service representative supporting all products.
Global Head of Prime Custody, Devon George-Eghdami, said: “Our Prime Custody service has been supporting US hedge fund managers for over ten years* and it is this experience that is invaluable in today’s market. We are focused on meeting the demands of hedge fund managers who seek a provider that offers flexible solutions, has a strong capital base and experience managing risk during volatile times.”
Global Head of Prime Services at J.P. Morgan, Sandie O’Connor, said: “This is the next evolution in our continued effort to expand our prime brokerage franchise in Europe. These local capabilities will allow our international clients to have integrated access to multiple J.P. Morgan services across asset classes.”
