J.P. Morgan Chosen By BlackRock As Custodian For Over $1 Tln Of Assets

(RTTNews) - J.P. Morgan's Corporate & Investment Bank announced that it has been selected by BlackRock, a global leader in investment management, to provide custody and fund services for over $1 trillion of its clients' assets. The landmark transaction is among the largest custody deals ever signed. J.P. Morgan expects to onboard the assets over the next two years.

In addition to significant new mandates, such as the deal with BlackRock, the bank has increased business with existing custody clients by 10% over the last 12 months. Overall, the bank serves approximately 2,500 custody clients in more than 100 markets, providing settlement, safekeeping and asset servicing of securities along with accounting and administration services for funds.