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JPM withdraws from UK transfer agency services

by Robert St George on Jan 31, 2014 at 14:40

JPM withdraws from UK transfer agency services

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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