J.P. Morgan Awarded Mandate for Custody and Related Services by Hewitt for Delegated Consulting Clients

London, April 28, 2010 – J.P. Morgan's Worldwide Securities Services business has been awarded a mandate to provide custody and related services to pan-European defined benefit pension schemes advised by Hewitt Delegated Consulting Services.

J.P. Morgan will provide custody, transition management, accounting, performance measurement, FX, compliance, securities lending and trustee services to support Hewitt pension fund clients throughout Europe, three of which, with a total of more than £450 million in assets under management, are already using J.P. Morgan’s services. 

Hewitt Delegated Consulting Services allow pension scheme investment specialists to manage and execute a scheme's investment policy efficiently. The trustees still set the strategic framework and provide regular oversight, but the service then manages and executes the investment strategy against strict parameters. As a result, a scheme benefits from rapid responses to changing market and/or solvency conditions, and can take opportunities to lock in gains.

J.P. Morgan’s solution set was designed to meet Hewitt’s highly sophisticated requirements and brought together J.P. Morgan's firm-wide capabilities. The complex solution demonstrates the depth of industry expertise within J.P. Morgan to immediately meet the requirements of operating a multi-manager investment strategy.

“We were impressed by J.P. Morgan’s offering and particularly its breadth of capabilities for supporting alternative investment strategies.  We especially like its ability to efficiently on-board new pension fund assets in a low risk environment,” said Zuhair Mohammed, Chief Executive of Delegated Consulting Services at Hewitt.

Benjie Fraser, Pensions Practice Lead in Europe for J.P. Morgan Worldwide Securities Services' pension fund business in Europe, said: “We are delighted to have the opportunity to strengthen our relationship with Hewitt through this innovative programme.  We are excited to further enhance our service capabilities to meet the specific needs of fiduciary managers as we continue to expand our work in the pensions sector across Europe.”

About Hewitt Risk Management Services
Hewitt Risk Management Services Limited is the investment management subsidiary of Hewitt Associates Limited in the UK. Our Delegated Consulting Service, provided through Hewitt Risk Management Services Limited, offers a fully delegated investment strategy for pension schemes. Within clearly defined parameters and with trustees maintaining overall control of the objectives and any investment restrictions, our Delegated Consulting Service provides a highly tailored solution for a plan, including risk management strategies, asset allocation decisions and selection and appointment of fund managers.

Hewitt Risk Management Services Limited is authorised and regulated by the Financial Services Authority.

About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) 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. A division of J.P. Morgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $15.3 trillion in assets under custody and $6.5 trillion in funds 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 $2.1 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.