J.P. Morgan’s Worldwide Securities Services (WSS) has announced plans to expand its Direct Custody and Clearing (DCC) business in Brazil and Russia.
J.P. Morgan already offers DCC in Russia but plans to increase its footprint in the market. As part of this growth, Katerina Sizova has joined as head of the business in Russia, and will be responsible for building product capabilities, executing on the firm’s growth strategy and enhancing the client experience. Sizova most recently was global head of operations at the Renaissance Group, where she worked for 13 years.
Separately, J.P. Morgan also announced it has in-sourced its Global Custody business in Brazil, as part of its expansion.
Rowena Romulo, global head of Direct Custody & Clearing for J.P. Morgan’s WSS business, said: “The latest expansion is an extension of our previously announced plans to grow DCC in markets where it makes sense for us and our clients. Operating locally gives our clients an integrated solution across a range of markets supported by our leading client service, a unified technology platform and local market expertise.”