(17 November 2005 – USA) JPMorgan Worldwide Securities Services has rolled out a new division comprising 100 staff to provide fund administration services to private equity markets.The idea is to provide a fund administration “one stop shop” for CFOs looking to outsource all of their accounting and operations requirements.
Middle and back office support including fund and partnership accounting and tax support will be provided by the bank’s Private Equity Fund Services.
The new division will seek to cross sell complementary treasury products such as transaction advisory, cash management, foreign exchange, custody and derivatives.
“Our services enable private equity managers to focus on what they do best – building investor wealth,” the bank said.