GLOBAL - JP Morgan Investor Services is to provide global custodial services to the Gartmore Group's US$16bn in assets.
Further services that JPMorgan will be providing under the mandate include foreign exchange, cash trade execution, securities lending and commercial banking services.
JPMorgan offers Gartmore the expertise, capabilities and services that can increase our efficiencies and reduce our expenses, said Gartmore Group CEO, Paul Hondros.
Tom Swayne, business executive, JPMorgan Investor Services commented: “This mandate further solidifies our position as a leading full-service solutions provider to the investment management market.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.