Tag: JP Morgan

The head of client services and head of Sydney office at Northern Trust takes on the role of chair for the Australian custody group.

After going live last year with Fidelity International as its first client on the InvestOne platform, JP Morgan has since it migrated nine Australian clients.

The move is the first by JP Morgan since the restructure to the securities services business earlier this year.

The changes follows a decision by the bank to centralise all of its custody and fund services activities under one combined unit.

The former JP Morgan and State Street securities services veteran has retired after 32 years in the Australian asset servicing industry. 

A bounce in market valuations on the back of improved market returns and ongoing client confidence helped fuel the increase in AuC in Australia. 

Michael Tae, who has served in the role since 2017, will take on a new position as chief transformation officer for the Investor Communication Solutions business.

The milestone follows a period of increased investment by the US bank into its securities services business over the past few years.

The hire is the latest in State Street’s effort to bolster its asset owner servicing team globally.

The repo trade used its in-house developed blockchain application, Onyx, supported by instantaneous settlement to swap digitised US Treasury bonds for JPM Coin