JPMorgan’s client base south of the equator is heating up. The firm will now be providing custody and asset administration services to Cavali, Peru’s Central Securities Depository.
“We selected JPMorgan due to its strong commitment, experience and focus in Latin America,” says Francis Stenning, president and CEO of Cavali. “JPMorgan’s modern technology and online reporting as well as local language capabilities will help us improve operating efficiencies and allow us to capitalize on new opportunities in the market.”
This is just the latest in a series of wins that JPMorgan has had in Latin America. The firm was also recently awarded custody business of CEDEVAL (Central Securities Depository of El Salvador).
Separately, Northern Trust was chosen by Lincoln Financial Group to be the custodian of its US$1.1 billion defined benefit retirement plan. Services for the plan also include securities lending, investment risk and analytical services.
“Northern Trust provides excellent client services, global experience and strong relationship management,” says Risé Taylor, vice-president and treasurer of Lincoln Life Insurance Co. “We feel Northern Trust has the right combination of technology innovation and operations expertise to help us realize our goals in today’s financial market.”
To comment on this story, email april.scottclarke@rci.rogers.com.