JPMorgan’s trustee and fiduciary business tops $1 trillion

    NEW YORK, July 17 (Xinhua) -- JPMorgan Worldwide Securities Services announced Tuesday that its trustee and fiduciary business has more than 1 trillion dollars in assets under trusteeship.

    The business, which earlier this year celebrated its 20th anniversary, acts in a fiduciary capacity for European collective investment schemes and is a top provider of services in Dublin, Frankfurt, Jersey, Luxembourg and the United Kingdom, said the company in a news release.

    The trustee and fiduciary business has grown over the past ten years. In 1997 JPMorgan provided services to 554 funds with a value of 72 billion dollars while today that has increased to 1,502 funds with a value of more than 1 trillion dollars, making JPMorgan a market leader in Europe.

    JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, is a global industry leader with 14.7 dollars trillion in assets under custody.

    Trustee and fiduciary services have recently been expanded to include Belgium, China, said the company.