JP Morgan Chase has further strengthened its hold on the struggling funds distribution technology supplier FundsHub with the appointment to the FundsHub board of Chris Edge, the head of its mutual fund servicing business in Europe. Edge, currently Global Client Practice Leader of Investor Services in Europe at JP Morgan. He has held this position since September 2001.
Bryan Levine, COO at FundsHub since November 2001, has also joined the Board. JP Morgan Chase announced on 6 February that it was taking a majority holding in FundsHub, buying founder shareholder Investia’s original stake. FundsHub’s management and employees are also taking an increased stake in the business. The board appointments reflect the company’s new focus and shareholding structure.