July 12 (Reuters) – JPMorgan Chase & Co’s (JPM.N) Securities Products and services division is setting up a new data business enterprise which will be led by Gerard Francis, who joins the bank from Bloomberg, a memo observed by Reuters confirmed.
The new Facts Remedies business enterprise will carry together many assignments by now underway at the lender together with publish-trade analytics providers and a new asset manager platform, the memo claimed.
Francis, who was head of organization data methods at Bloomberg, will report to Teresa Heitsenrether, JPMorgan’s government vice president and world head of securities solutions.
The shift arrives as banking companies appear to modernise techniques and choose far better gain of the huge amounts of information that they system and retail store. This features giving much more significant quality analytics and facts-primarily based resources to their clients, these kinds of as investment decision firms and companies.
“Facts is an more and more important concentrate space for our purchasers, as developments in know-how and facts science unlock new alternatives to enhance trader results,” Heitsenrether claimed in the memo.
JPMorgan’s Securities Services division can help institutional buyers obvious and settle transactions, custody property and manage collateral and other routines.
(This tale has been refiled to insert dropped phrase in 3rd paragraph)
Reporting by Anna Irrera enhancing by David Evans
Our Specifications: The Thomson Reuters Rely on Principles.