JPMorgan Chase Launches Data Management Platform

JPMorgan Chase Launches Data Management Platform

Bloomberg JPMorgan Chase Co. is launching a platform to help buy-side firms sort through data in order to take on more functions for money managers swamped with information and facing fee pressure.

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The fusion by JPMorgan will be offered through the largest U.S. bank s securities services business within the corporate and investment bank. The unit provides services such as custody, fund administration, agency lending and collateral management, and is led by Teresa Heitsenrether. It had $31.6 trillion in assets under custody as of the end of March.

Daniel Pinto, President of JPMorgan President Daniel Pinto, said in an interview that we have been in a massive transformation of the securities services business. What is the challenge for the clients: How do you use the data that you have and enhance it with other data? Fusion is an interface that allows clients to sort through data. They will be able to access the data on the firm's platform or within their own applications.

At first it will offer JPMorgan proprietary data and then expand to include other sources. Heitsenrether said in an interview that the firm's approach will be partner-intensive.

Clients have multiple providers and their own data, Heitsenrether said. We want to provide data management with JPMorgan data and enrich it with data clients from all sources. We are taking on a function that the buy side would have done itself. Gerard Francis was hired as head of data solutions at JPMorgan last year. Francis previously worked at Bloomberg LP, the parent company of Bloomberg News.

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