June 23, 2006
Threadneedle Holding Outsourcing Talks with JP Morgan
Threadneedle Investments has begun outsourcing talks with US bank, JP Morgan. Threadneedle is one of Britain's largest asset managers. It intends to outsource its back-office operations to JP Morgan. Threadneedle has about 73 billion pounds of assets. It is having exclusive negotiations with JP Morgan to appoint the bank as provider of services such as settlement, valuation, pricing and accounting for all Threadneedle's funds. In the recent years, a number of firms based in the United States have signed outsourcing deals with fund management companies. Fund managers are expected to hand over operations to outside businesses to cut costs and improve services. It is no surprise that Threadneedle also wants to improve its organizational efficiency.
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