J.P. Morgan expands custodian partnership with Xplore Wealth
23 January 2020 Sydney
![Generic business image for news article](https://www.assetservicingtimes.com/assetservicesnews/images/ThursdayJanuary2320201579778836.jpg)
Xplore Wealth, a Sydney-based investment management company, has appointed J.P. Morgan as its custody provider.
Following Xplore Wealth’s business acquisitions, the company sought to consolidate custody activities to a single provider for their entire range of products including superannuation, discretionary and managed discretionary account offerings, according to a J.P. Morgan spokesperson.
J.P. Morgan has been the custodian for one of these products since 2014.
Meanwhile, a request for proposal was issued to the market in 2019 and, after a due diligence process, J.P. Morgan was mandated in October 2019.
The key reason for selecting J.P. Morgan, according to Xplore Wealth, includes operational scale and efficiencies, combined with strong international capabilities.
Additionally, J.P. Morgan’s flexibility to integrate with Xplore Wealth’s strategic technology and ability to operate within a diverse business model was highlighted as a contributing factor.
Nadia Schiavon, head of securities services for Australia and New Zealand at J.P. Morgan, commented: “We are delighted to be expanding our partnership with Xplore Wealth. The breadth of our asset servicing capabilities, complemented by J.P. Morgan’s leadership position in other disciplines, means we are well-positioned to provide holistic support to wealth management platform providers in the Australian market.”
Schiavon continued: “J.P. Morgan recognises the unique needs associated with delivering efficient, scalable and technology-driven access to a diverse range of assets that platforms such as Xplore Wealth are seeking to provide to their customers.”
Xplore Wealth’s CEO, Mike Wright, added: “Following a thorough market review of potential custodial partners, Xplore Wealth selected J.P. Morgan. The decision reflects the product breadth and international expertise of J.P. Morgan.”
“Xplore Wealth is pleased to be extending its relationship with J.P. Morgan and in doing so is delivering a key element of our One Platform programme in the appointment of a single custodian across all the Xplore Wealth products,” Wright added.
Following Xplore Wealth’s business acquisitions, the company sought to consolidate custody activities to a single provider for their entire range of products including superannuation, discretionary and managed discretionary account offerings, according to a J.P. Morgan spokesperson.
J.P. Morgan has been the custodian for one of these products since 2014.
Meanwhile, a request for proposal was issued to the market in 2019 and, after a due diligence process, J.P. Morgan was mandated in October 2019.
The key reason for selecting J.P. Morgan, according to Xplore Wealth, includes operational scale and efficiencies, combined with strong international capabilities.
Additionally, J.P. Morgan’s flexibility to integrate with Xplore Wealth’s strategic technology and ability to operate within a diverse business model was highlighted as a contributing factor.
Nadia Schiavon, head of securities services for Australia and New Zealand at J.P. Morgan, commented: “We are delighted to be expanding our partnership with Xplore Wealth. The breadth of our asset servicing capabilities, complemented by J.P. Morgan’s leadership position in other disciplines, means we are well-positioned to provide holistic support to wealth management platform providers in the Australian market.”
Schiavon continued: “J.P. Morgan recognises the unique needs associated with delivering efficient, scalable and technology-driven access to a diverse range of assets that platforms such as Xplore Wealth are seeking to provide to their customers.”
Xplore Wealth’s CEO, Mike Wright, added: “Following a thorough market review of potential custodial partners, Xplore Wealth selected J.P. Morgan. The decision reflects the product breadth and international expertise of J.P. Morgan.”
“Xplore Wealth is pleased to be extending its relationship with J.P. Morgan and in doing so is delivering a key element of our One Platform programme in the appointment of a single custodian across all the Xplore Wealth products,” Wright added.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
![Advertisement](../images/bull-252524.png)