Awards for Excellence 2005
JPMorgan
The US bank is constantly evolving its investor services business to win the mandates that matter
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| Mike Clark |
State Street and Bank of New York remain formidable opponents in the investor services universe, but JPMorgan wins top slot once again this year for the consistency of its client service and dedication to product innovation.
In 2004, JPMorgan generated 16% revenue growth, achieving record revenue and a 20% increase in assets under custody for institutional investors worldwide. It looks as if 2005 will be another good year. In the first quarter, JPMorgan's securities business enjoyed continued growth, with $508 million revenue, a 23% increase year o year, and up 12% from the fourth quarter of 2004.
"People often ask us how we are continuing to grow our assets and where the growth is coming from," says Mike Clark, global head of JPMorgan Worldwide Securities Services. "We can only say that we are seeing real growth for a number of reasons. We have unique products and we are attracting new business because of this, it's not just new business from existing clients.