JPMorgan Is Luxembourg's Top Custodian And Fund Administrator

JPMorgan Bank Luxembourg S.A. is the top custodian and fund administrator in Luxembourg, according to the latest figures from Lipper, the independent data firm. As of 31 December 2008, JPMorgan's Luxembourg assets under administration were $301 billion and assets under

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JPMorgan Bank Luxembourg S.A. is the top custodian and fund administrator in Luxembourg, according to the latest figures from Lipper, the independent data firm. As of 31 December 2008, JPMorgan’s Luxembourg assets under administration were $301 billion and assets under custody were $349 billion. JPMorgan has been the largest custodian in the domicile, according to the survey, for the past nine years.

“We have been partnering with clients to help them preserve the integrity of their funds and operations against the unprecedented challenges created by recent volatile markets,” says Susan Ebenston, head of global funds services products for JPMorgan Worldwide Securities Services. “By allowing us to anticipate and fully meet our clients’ needs in these difficult times, these close partnerships-as well as robust systems and procedures-have been critical in enabling us to help our institutional clients navigate this environment. As a result, we have been able to maintain our leadership in the Lipper survey.”

“We are delighted to maintain our number one ranking in the second largest funds’ domicile in the world,” says Sanjiv Sawhney, managing director of JPMorgan Bank Luxembourg. “In these challenging market conditions we continue to upgrade our service offering to meet the changing needs of our client base.”

JPMorgan has been in Luxembourg for more than 35 years, and has grown significantly following the implementation of UCITS (Undertakings for the Collective Investment of Transferable Securities). The Worldwide Securities Services business employs over 500 staff from 25 different nationalities. Along with more than 300 people who are part of JPMorgan Asset Management, it makes Luxembourg the largest JPMorgan location in continental Europe.

D.C.

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