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PrintMay 01, 2009
On Monday, April 27, 2009 J.P. Morgan announced the sale of its national retail lockbox business to Regulus, a division of 3i Infotech Ltd. J.P. Morgan was one of the last large bank providers to own and operate a national retail lockbox network. Please be advised that J.P. Morgan is working closely with Regulus to facilitate a smooth conversion for clients and employees transitioning to the Regulus team.
Unfortunately, after the sale was announced, several publications ran an erroneously headlined story that indicated we had sold our Treasury Services business to 3i Infotech. The headline was incorrect and has been addressed.
Please be advised that the sale of the national retail lockbox business will not impact any other of our Treasury Services products. J.P. Morgan remains fully committed to its comprehensive set of Receivables solutions including but not limited to National Network Wholesale Lockbox, Regional Retail and Wholesale Lockbox and Public Sector Lockbox services.