NEW YORK--JP Morgan Investment Management, with $321 billion in assets under management, has hired the Bank of New York to provide investment accounting via a service bureau contract.
The deal is part of a strategic push by JP Morgan to ramp up adoption of a straight-through-processing environment in its buy-side operations, according to a bank official familiar with the contract who asked not to be named.
"We're after a higher level of STP," says the Morgan official. "We want to integrate the
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails