JP Morgan adds Middle- and Back-Office Technology to its Hedge Funds Operations
NEW YORK - JP Morgan Worldwide Securities Services plans to acquire the 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, to more aggressively compete in the hedge fund-servicing market.
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