Thu, Oct 27, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

J.P. Morgan expands prime custody service to hedge fund clients

Monday, December 05, 2011
Opalesque Industry Update: Less than a week after signifying that its banking division would cancel its hedge fund accounts, J.P. Morgan Chase has announced it is planning to expand its prime custody service to hedge fund clients of its European Prime Brokerage business using a fully integrated platform.

According to a report by Asset Servicing Times, J.P. Morgan’s prime custody service uses a bank custodial account that enables clients to separate securities. This also takes advantage of the firm’s prime brokerage offering capabilities that are delivered using a fully integrated product suite.

The integrated platform enables the swift movement of securities between custody and prime brokerage accounts, as well as consolidated reporting and a single client-facing technology. The platform offers a dedicated client service representative that supports all products.

J.P.Morgan’s 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.”

Last week, Barry Ritholtz’s Big Picture reported that JP Morgan’s business banking divisions had announced plans to terminate its service of providing any financials to its hedge fund or private equity customers.

The web site reportedly posted a letter from J.P. Morgan indicating that all of the accounts would be discontinued beginning December 19, 2011. The bank would send checks to clients after the said date, the report said.

Precy Dumlao

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  2. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa

  3. Investing - Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities, Lansdowne's Roden says likes animal genetics company Genus[more]

    Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities From As ValueWalk reported back in February, earlier this year Andrew Lawrence set out to raise $250 million to $500 million for a fund that will buy stakes in hedge funds that have suspended redem

  4. Other Voices: Follow the advice of investment consultants - I think not[more]

    Mark Rzepczynski, Founding Partner, Chief Investment Officer AMPHI Research and Trading, writes on Harvest Exchange: Investment consultants are a force to the reckoned with in the pension world. They advise and drive many pension decisions around the globe. Consultants literally control trillion

  5. Opalesque Roundtable: Style drift, poor communications and credibility fatigue are biggest red flags for hedge funds investors[more]

    Komfie Manalo, Opalesque Asia: Style drift, poor communications and credibility fatigue are the biggest red flags for hedge funds investors, said participants of the latest 2016 Opalesque Investor Roundtable, sponso