JP Morgan enhances its fund servicing business

NEW YORK – JP Morgan Worldwide Securities Services is set to acquire a middle- and back-office technology platform from Paloma Partners Management Company, a Connecticut-based multi-strategy hedge fund, for an undisclosed sum as the firm rolls out its new JP Morgan Hedge Fund Services business unit.

The unit will combine acquired Paloma components and IT staff with JP Morgan's hedge fund administration division, JP Morgan Tranaut, in order to compete more aggressively in the hedge fund servic