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JP Morgan Launches PB, Custody Platform

09-11-2009 | Source: Global Investor Magazine - Click here to take out a FREE Trial

JP Morgan has set up the Prime Custody Solutions Group to offer integrated prime brokerage and custody platform to clients, Bloomberg reports. The new unit, which will cater to hedge fund and long/short managers, will be headed by Devon George-Eghdami.

George-Eghdami will be based in New York and will work under Michael Minikes, chief executive of JP Morgan Clearing and Sandie O’Connor, global head of financing and markets products. Previously, she was the head of Hybrid Capital Trading.

JP Morgan has merged the equity prime brokerage business it acquired with Bear Stearns in 2008 with JP Morgan’s existing Treasury & Securities Services to form the new unit. The New York-based division will help hedge fund and long-only managers improve execution and collateral management, reduce financing costs, and consolidate reporting.

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Global Investor Magazine: Global Investor magazine is one of the flagship titles published by Euromoney Institutional Investor plc. It was launched 20 years ago to focus on custody and fund administration, and is highly regarded in the global asset management community as a prestigious, credible title offering authoritative and timely coverage of the top players in the industry.

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