JP Morgan today announced it has been appointed to provide fund accounting and global derivatives services for UBS Global Asset Management's UK funds, which have $20 billion under management.
The appointment is an extension of the services J.P. Morgan already provides for UBS Global Asset Management in the UK, which include custody and related services. UBS Global Asset Management will continue to provide fund accounting for its funds in other markets.
J.P. Morgan's Edinburgh-based fund servicing centre will provide the services.
Matthew Stemp, Head of UBS Global Asset Management in the UK, said: "Our decision to appoint J.P. Morgan as the service provider for our UK fund range was based on a desire to select a partner who could best meet our demands for the highest quality standards. We believe J.P. Morgan is best placed to deliver this."
Francis Jackson, head business development and relationship management in EMEA at J.P. Morgan Investor Services, said, "We welcome the opportunity to extend our global relationship with UBS Global Asset Management into UK fund accounting, and are delighted to have the opportunity to work with them in this capacity."