JPMorgan Asset Management (JPMAM) has consolidated all of its UK asset management lines onto a single business platform in a bid to achieve significant cost savings.
Product lines have been transferred onto the Rufus Global Transfer Agency (GTA) platform, starting with the PEP migration in May, followed by the Life Funds migration in July and a Rufus GTA upgrade in September 2008. The final migration occurred in November when equity products were moved onto the platform.
JPMorgan has been working on the transition with Bravura Solutions, a global supplier of wealth management applications and professional services.
"The successful completion of the rationalisation of our product range on to Rufus GTA was the most critical strategic initiative in the UK through 2008," says Dan Watkins, JPMAM's head of European operations."
Tony Klim, CEO of Bravura's EMEA division, says the transformation was a strategic initiative for JPMorgan AM and had delivered significant cost savings and operational efficiencies for the company.
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