J.P. Morgan named global custodian for Credicorp 01 December 2023US Reporter: Sophie Downes
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J.P. Morgan’s Securities Services has been selected to provide a range of asset servicing solutions to Credicorp targeting the institutional investor segment.
Credicorp is the leading financial services company in Peru, with presence in Bolivia, Chile, Colombia, Panama and the US.
J.P. Morgan was awarded the business to help Credicorp consolidate its global custody and asset servicing needs into one service provider for Prima AFP and Banco de Credito del Peru’s portfolio.
The company aims to unite custody business conducted through Credicorp Capital Servicios Financieros, and ASB Bank Corp entities, including global custody and reporting services for Credicorp’s alternative investment fund range, for a total of US$22 billion in assets under custody.
Mike Chun, head of Americas securities services sales at J.P. Morgan, adds: “We are excited at this opportunity to partner with Credicorp across their broad franchise and to continue to demonstrate our commitment and capabilities to the pension segment in the Latin American region.”
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