JPMorgan arm buys PE business
Source: Agencies |
April 30, 2010, Friday
|
Print Edition
Print Edition
JPMORGAN Worldwide Securities Services yesterday said it is buying the private equity administration services business of Schroders Plc.
The price for the business, which is based in Guernsey and Bermuda, was not disclosed. The deal is subject to regulatory approval.
London-based Schroders now has US$6.2 billion in committed capital under administration.
JPMorgan Worldwide Securities Services is a division of JPMorgan Chase & Co's Treasury and Securities Services unit.
The unit generated US$279 million, or about 8.5 percent, of the bank's first-quarter profit of US$3.3 billion.
Worldwide Securities Services had revenue of US$874 million in the first quarter, more than a third of the Treasury unit's US$2.5 billion revenue.
The price for the business, which is based in Guernsey and Bermuda, was not disclosed. The deal is subject to regulatory approval.
London-based Schroders now has US$6.2 billion in committed capital under administration.
JPMorgan Worldwide Securities Services is a division of JPMorgan Chase & Co's Treasury and Securities Services unit.
The unit generated US$279 million, or about 8.5 percent, of the bank's first-quarter profit of US$3.3 billion.
Worldwide Securities Services had revenue of US$874 million in the first quarter, more than a third of the Treasury unit's US$2.5 billion revenue.
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