JP Morgan Worldwide Securities Services today announced it will provide fund accounting, OTC derivatives services and compliance reporting to Schroder Investment Management's UK range of retail funds.
J.P. Morgan already provides custody, accounting, OTC derivative compliance reporting, securities lending, trust & fiduciary, cash and foreign exchange services to Schroders, and services the company from Australia, Hong Kong, Luxembourg, the US and the UK.
Francis Jackson, head of business development and relationship management in EMEA for J.P. Morgan Worldwide Securities Services, said, "We are delighted to be able to expand our global relationship with Schroders. We believe our successful partnership with our client is based on superb service and world class product. Our ability to deliver fund accounting excellence consolidated across a client's European fund base allows our clients to manage risk effectively."
Markus Ruetimann, Group Chief Operating Officer of Schroders, said, "We maintain an extensive global operational footprint with J.P. Morgan across many products and locations. Consolidating custody and UK fund accounting services with one provider makes sense as it reduces operating expenditure and increases operational efficiencies for both parties."