J.P. Morgan appoints new trust & fiduciary head 17 May 2012London Reporter: Justin Lawson
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J.P. Morgan has appointed David Kane as head of its Trust and Fiduciary and Compliance Reporting business, which is part of the firm’s Worldwide Securities Services division (WSS). Kane replaces Tim Gandy, who is retiring after a 47 year career and 23 years at J.P. Morgan.
Kane has extensive experience in securities services and at J.P. Morgan. Since joining J.P. Morgan in 1987, he has held a variety of roles across the firm, leading teams in finance, operations, technology and bringing new client business into the firm. He is based in J.P. Morgan’s Bournemouth office, and his most recent role was head of Global Custody Operations, a position he assumed in 2006.
In this position, Kane led the development of WSS’ global operating model across Dallas, Bournemouth, Mumbai and Bangalore, working with his colleagues during which time assets under custody grew to $16.9 trillion.
Nick Rudenstine, head of the Investor Services business within WSS, said, “David’s deep understanding of our business, clients and role as a Trustee make him the ideal successor to Tim. Tim is a renowned industry expert, and his leadership, expertise and guidance will be greatly missed.”
Since 1991, Gandy has headed J.P. Morgan’s Trust and Fiduciary and Compliance Reporting business, which is the largest in Europe with 12 European locations, and acts for more than 2,000 funds worth $1.3 trillion.
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