JP Morgan Chase has officially unfurled its battle flag in the custodian outsourcing arena.
Paula Sausville-Arthus leads the newly-dubbed Asset Manager Solutions Group (formerly Chase Global Investor Services), reporting to
Diane Eshleman, Chief Operating Officer for JP Morgan Investor Services.
"This is just a formalized group to coordinate and strategically look at outsourcing," said
Alicia Herr, spokesperson for JP Morgan Chase. "It sort of sets in place what we have been doing for the past year."
While JP Morgan originally disposed of its own servicing unit a number of years ago, it picked up Chase's business in the recent merger. Currently, JP Morgan custodies assets with the
Bank of New York, but those assets will come home over the next couple of years. How much will this move amount to?
Herr was unable to specify the dollar amount of the conversion, and Bank of New York officials were unavailable for comment at press time. JP Morgan will not be adding to its sales force even with the custody unit's official grand opening. 
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