J.P. Morgan will close its U.K. transfer agency business.
The business is understood to be a small part of the investment bank’s overall transfer agency offering, with the main operations being carried out in Dublin and Luxembourg. The bank is understood to have taken the strategic decision to close the non-core U.K. business in the last year.
The funds of Cazenove, one of the U.K. business’s key clients, will be transferred from J.P. Morgan to IFDS, the Financial Times has reported.
J.P. Morgan declined to comment.
J.P. Morgan to Close U.K. Transfer Agency Business
J.P. Morgan will close its U.K. transfer agency business.
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