Standard Chartered has gained management of the White Pine structured investment vehicle from JP Morgan Chase. The transfer, in addition to the Whistlejacket SIV, makes Standard one of the larger players. White Pine was established by Banc One by structured finance stalwart, Jim Irvine. Apparently an internal team led by Irvine also bid to take over management of the vehicle. This is a business where economies of scale matter. The size of White Pine is $8 billion while Whistlejacket has $6.5 billion. But Standard Chartered is still some way behind the largest SIV, Sigma, which has $30 billion under management.