JP Morgan moves FX markets expert to new global investor services sales role
Former global co-head of FX trading moves to a new senior role for selling prime, futures and securities services.
Former global co-head of FX trading moves to a new senior role for selling prime, futures and securities services.
New research from industry analytics provider Coalition showed revenues from global securities services providers collectively reached $37.2 billion in 2018.
JP Morgan has increased spending for the business’s technology by a third, and now has one of the highest operating margins than all of the global custodians.
A UBS survey showed 87% of participants from banks with assets of $250 billion and above believe technology spending will increase annually over the next three years.
The transaction immediately follows the recent regulatory approval for DTCC to expand the DTCC its sponsored service clearing programme.
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Also known as Delta One, the synthetic prime brokerage business accounted for nearly half of JP Morgan’s total global prime finance revenue in 2018.
Assets under custody fall for State Street as do servicing revenues.
The eighth action against a bank or broker, and fourth action against a depositary bank, resulting from the SEC’s ongoing investigation into abusive ADR pre-release practices.