JPMorgan Investor Services announced today that YMCA Retirement Fund has extended its relationship with the bank to include global custody. The fund has $3.2 billion in assets. JPMorgan has provided depository and treasury services to the YMCA Retirement Fund for some years.
Morgan will provide global custody, accounting, performance measurement and analytical services, securities lending, investment guideline compliance monitoring and short-term investment funds for cash management.
“We are proud of the opportunity to enhance our long-standing relationship with the YMCA by extending our value-added services aimed at maximising efficiencies,” says Tom Swayne, Business Executive, JPMorgan Investor Services. “Our global infrastructure combined with exceptional local service and fully integrated multi-currency accounting platform will provide additional certainty to the YMCA’s US and non-US securities operations.”
John Preis, president and CEO, the YMCA Retirement Fund added: “JPMorgan has been a trusted financial partner to the YMCA for many years and we are pleased to extend that relationship.”
The YMCA Retirement Fund is a not-for-profit, tax exempt organisation, which began in 1922. The Fund sponsors the YMCA Retirement Plan, a Defined Contribution plan and serves 908 YMCA’s and 82,000 participants around the world. The YMCA Retirement Fund offices are located in New York.