JPMorgan today announced an agreement with Shell Asset Management Company (SAMCo), the asset management arm of Royal Dutch Shell, enabling a global provision to service Shell corporate pension and insurance plans with total assets in excess of $70 billion.
With this relationship, JPMorgan launches a range of sophisticated services for SAMCo and participating Shell pension funds, including fund accounting, fund administration and certain securities lending services all from segregated and/or pooled accounts that will prove to be a new market milestone.
Francis Jackson, head of EMEA business development and relationship management for JPMorgan Investor Services, said: "Our strategy of global reach coupled with local delivery allows us to offer a differentiated pooling service that combines enhanced risk management and governance with greater efficiencies. We call this deal 'landmark' because we believe it to be one of the most sophisticated asset pooling structures in the market to date. It also underlines our strategic commitment to the pensions industry on a global scale."
John Gout, head of Netherlands business development and relationship management for JPMorgan Investor Services said: "This mandate by SAMCo propels us to become one of the top three global custody providers in the Dutch market and gives us further momentum in the region. Our Dutch business continues to be a focus for the firm and we anticipate continued strong growth in the coming years."