J.P. Morgan’s Worldwide Securities Services said Tuesday it plans to expand its direct custody and clearing business in Brazil and Russia.
Katerina Sizova has been put in charge of the Russian business, with responsibility for executing on its growth plans.
She will also be responsible for building up products and services, as well as improving customer relationships.
Sizova most recently was Global Head of Operations at the Renaissance Group, where she worked for 13 years.
Brazil is a new market for j.P Morgan's sub-custody business. J.P. Morgan will "in-source'' its Global Custody business there, as part of its expansion.
Rowena Romulo, Global Head of Direct Custody & Clearing for J.P. Morgan’s WSS business, said: “The latest expansion is an extension of our previously announced plans to grow DCC in markets where it makes sense for us and our clients. "Operating locally gives our clients an integrated solution across a range of markets,'' said Rowena Romulo, Global Head of Direct Custody & Clearing for J.P. Morgan’s Worldwide Securities Services business.
J.P. Morgan offers direct custody and clearing in Australia, India, Ireland, New Zealand, Taiwan, Russia, the United Kingdom and United States with coverage and expertise for clearing, settlement, custody and asset servicing.
J.P. Morgan offers custody and clearance services to institutional investors in more than 100 markets.
In Russia, J.P. Morgan began providing custodian services in 1995 and now has 160 employees in Moscow.
In Brazil, J.P. Morgan offers services across the Investment Bank, Global Corporate Bank, Asset Management, Private Banking and Treasury & Securities Services. It has operated in some fashion or other there for 50 years.
-- This article first appeared on Securities Technology Monitor.