JPMorgan Adds Prime Custody In Europe

Dec 5 2011 | 10:23am ET

Its full-service European prime brokerage now up and running, JPMorgan Chase is expanding the unit.

The firm has begun offering clients in Europe prime custody services. JPMorgan hopes the new platform will help boost its market share and standing in Europe, where it is the sixth-largest prime broker by assets, Financial News reports.

To head the growing business, the bank has sent Teresa Heitsenrether to London. The new head of prime brokerage for Europe, the Middle East and Africa told FN, "our strategy is to establish and grow our relationships with hedge funds in Europe and also to tap more deeply into the international activity of the clients currently on our U.S. platform."

JPMorgan launch its European prime brokerage in June.

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