J.P. MORGAN ANNOUNCES NEW EXECUTIVE TO LEAD LUXEMBOURG OFFICE
Luxembourg, April 23, 2010 - J.P. Morgan today announced the appointment of Laurent Vanderweyen to the role of General Manager of J.P. Morgan Bank Luxembourg S.A.
Mr. Vanderweyen, who joins J.P. Morgan in July, will have executive responsibility for the Luxembourg office and will serve as a Board member of J.P. Morgan Bank Luxembourg S.A. He will lead J.P. Morgan's Worldwide Securities Services business in Luxembourg.
J.P. Morgan is the largest custodian and fund administrator in Luxembourg, with more than $468 billion of assets under custody and more than $388 billion under administration, representing an 18% and 14% market share respectively, according to Lipper's 16th Annual Luxembourg Fund Encyclopaedia.
Dan Kramer, J.P. Morgan's Global Fund Services Operations Executive, said: "We are delighted to announce Mr. Vanderweyen to the leadership team in Luxembourg as J.P. Morgan consolidates its top position in building successful business partnerships with many of the world's leading fund managers. Mr. Vanderweyen joins us to enhance our operations as we strengthen our organization to ensure we continue to address the fund industry's increasing demand for custody and administration services."
Mr. Vanderweyen joins J.P. Morgan from RBC Dexia Investor Services SA in Luxembourg where he was Managing Director and Chairman of the Executive Committee. At RBC Dexia and predecessor organizations, Mr. Vanderweyen held several senior positions within Finance, Risk, Corporate Services and Human Resources.
About J.P. Morgan Worldwide Securities Services J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm's unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $15.3 trillion in assets under custody and $6.5 trillion in funds under administration. For more information, go to www.jpmorgan.com/visit/wss.
About JPMorgan Chase JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.