J.P. Morgan first foreign agent lender to execute in Brazil
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J.P. Morgan first foreign agent lender to execute in Brazil 27 May 2011New York Reporter: Ben Wilkie
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J.P. Morgan Worldwide Securities Services has successfully executed and settled a securities lending transaction in the Brazilian market. In doing so, J.P. Morgan is the first non-domestic agent lender to complete a loan transaction in Brazil.
J.P. Morgan has conducted business in Latin America for over 100 years. J.P. Morgan’s securities lending business also has a track record in emerging markets - the bank was the first agent lender to settle a non-domestic securities lending transaction in Korea and is the largest lender within many emerging markets, including Taiwan.
“As Brazil is a complex market, we have been involved in due diligence for quite some time and we are very pleased to now be able to enter such an exciting market,” said Judy Polzer, global head of securities lending product at J.P. Morgan. “This development underscores our commitment to offering global access to our client base and to building upon our history as a leader in emerging markets.”
Ricardo Nascimento, head of WSS business for Brazil, added “The ability to offer securities lending services in the Brazilian market is part of our strategy to offer our global and Brazilian clients a broad range of local services to support their investment strategies.”
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