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JPM JP Morgan Chase and Co

193.40
0.03 (0.02%)
27 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
JP Morgan Chase and Co NYSE:JPM NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.03 0.02% 193.40 194.87 193.06 193.57 6,413,657 00:26:32

JPMorgan to Outsource $500 Billion Custody Business in Hong Kong and Taiwan, Reuters Reports

12/12/2023 5:29am

Dow Jones News


JP Morgan Chase (NYSE:JPM)
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--JPMorgan plans to fully exit the local custodian business in Asia-Pacific by finding another bank to take on its Hong Kong and Taiwan custody operations, with Citigroup and Standard Chartered among the candidates, Reuters reports, citing unnamed sources.

--The U.S. bank has about $520 billion worth of client assets under custody as a local custodian in the two markets and plans to complete the transition by the end of 2024, according to Reuters.

 

Full story: tinyurl.com/2p9ch7as

 

Write to Ben Otto at ben.otto@wsj.com

 

(END) Dow Jones Newswires

December 12, 2023 00:14 ET (05:14 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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