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JPM withdraws from UK transfer agency services

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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