J.P. Morgan WSS takes on new Australian and New Zealand funds
02 April 2012 Australia and New Zealand
Image: Shutterstock
As concerns around counterparty and credit risk continue to swirl, some Australian and New Zealand financial institutions have decided to upgrade their collateral management services to stay on top of changing regulation.
J.P. Morgan WSS has spent $30 million in the region on new technology to keep up with demands of Australian super funds and institutional investment firms, including introducing iPhone apps that supply in-depth financial analysis to employees.
The company announced that it has been appointed to provide end-to-end third party derivatives collateral management for four of the region’s superannuation funds: AustralianSuper, New Zealand Superannuation Fund, Government Superannuation Fund Authority and National Provident Fund.
The $30 million local spend was overseen by Paul Gladgau, head of technology for WSS in Australia and New Zealand, who leads a team of 85 local IT specialists.
Head of collateral management for Asia-Pacific at J.P. Morgan WSS Blair Harrison said: “Recent volatility and counterparty defaults have reinforced the need for timely and appropriate collateralisation of counterparty exposures for superannuation funds and asset managers. We are seeing these investors place greater emphasis on the quality of the collateral as well as the need to diligently and constantly value and administer the collateral involved in a transaction.”
J.P. Morgan WSS has spent $30 million in the region on new technology to keep up with demands of Australian super funds and institutional investment firms, including introducing iPhone apps that supply in-depth financial analysis to employees.
The company announced that it has been appointed to provide end-to-end third party derivatives collateral management for four of the region’s superannuation funds: AustralianSuper, New Zealand Superannuation Fund, Government Superannuation Fund Authority and National Provident Fund.
The $30 million local spend was overseen by Paul Gladgau, head of technology for WSS in Australia and New Zealand, who leads a team of 85 local IT specialists.
Head of collateral management for Asia-Pacific at J.P. Morgan WSS Blair Harrison said: “Recent volatility and counterparty defaults have reinforced the need for timely and appropriate collateralisation of counterparty exposures for superannuation funds and asset managers. We are seeing these investors place greater emphasis on the quality of the collateral as well as the need to diligently and constantly value and administer the collateral involved in a transaction.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
