J.P. Morgan Completes Industry's First Two 'Second Generation' Outsourcing Transactions for Asset Managers

London, June 27, 2011 - J.P. Morgan’s Worldwide Securities Services business (J.P. Morgan WSS) today announced it has successfully completed the industry’s first two migrations of assets from an existing middle and back office services provider to its own strategic platform, on behalf of fund managers Artemis Investment Management (Artemis) and J.P. Morgan Asset Management.  The range of services WSS now provides these clients includes custody, fund administration, investment operations and derivatives services.

Migrating fund managers onto J.P. Morgan’s platform from other providers is a significant industry milestone, providing the fund management industry with flexibility and new options for their middle and back office services, with J.P. Morgan the first service provider able to do so.  Asset managers on J.P. Morgan’s flexible “component-ised” platform, which can support a range of fund types including alternative investments, can choose the functions they want J.P. Morgan to provide and those they wish to retain, receive consistent data across all of their funds and leverage the significant technology investment made by J.P. Morgan.

J.P. Morgan Asset Management, the investment arm of JPMorgan Chase, moved its assets from BNY Mellon to J.P. Morgan Worldwide Securities Services earlier this year. Artemis, which had previously used BNP Paribas Securities Services and HSBC Securities Services as its service providers, moved to J.P. Morgan’s platform concurrently, and completed the migration within 12 months, shortly after J.P. Morgan Asset Management.

Mark Murray, Chief Operating Officer at Artemis Investment Management said: “J.P. Morgan’s offering best met our requirements: it is very flexible and enables us to pick the services and solutions we require, and not take what we don’t need. We are enjoying working with them.”

 “We are delighted to be working with two industry leading and sophisticated fund managers like Artemis and J.P. Morgan Asset Management,” said Susan Ebenston, Global Fund Services Executive, J.P. Morgan Worldwide Securities Services.  “Providing middle and back office services to these two fund managers on our existing platform enables more efficient processing. It ensures our clients benefit from the ongoing investment we make in our technology and can focus on their core business of investment management with minimal disruption, better serving their own clients.”

About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. Worldwide Securities Services leverages the firm's unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $16.6 trillion in assets under custody and $7.5 trillion in assets under administration.  For more information, go to www.jpmorgan.com/wss.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.