View the article online at http://citywire.co.uk/wealth-manager/article/a731581
JPM withdraws from UK transfer agency services
by Robert St George on Jan 31, 2014 at 14:40
JP Morgan is exiting its transfer agency business in the UK, Wealth Manager understands.
Transfer agents perform vital back-office functions on behalf of asset managers, including keeping records for investors on fund transactions and shareholder voting.
The transfer agency business at JP Morgan – which employs more than 400 people in Ireland, Luxembourg and the UK – currently processes over three million investor trades every year across £300 billion of assets under administration.
JP Morgan declined to comment.
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