European Fund Services Delivered Globally WORLDWIDE SECURITIES SERVICES
An established brand Overview Securities Services is a global leader in financial services, offering solutions to clients in more than 100 countries with one of the most comprehensive product platforms available. We have been helping our clients to do business and manage their wealth for more than 200 years and our business has been built on the core principle of putting our clients interests first. Worldwide Securities Services is a premier securities servicing provider helping sophisticated institutional investors, alternative asset managers, broker dealers and equity issuers to optimize efficiency, mitigate risk and enhance revenue. With $17.9 trillion in assets under custody and $7 trillion in assets under administration, we leverage the firm s global scale, leading technology and deep industry expertise to service investments around the world. has been providing custodial services since 1857 and was the first commercial bank to enter the global custody business. It was a professional who coined the term global custody, defining an entire industry. We introduced investment compliance in 1966, performance measurement in 1977, and securities lending and multicurrency accounting in 1979. And we have trust and custody client relationships that date back more than 50 years, demonstrating our long-term commitment to our clients and to the securities servicing industry. 2 We are the largest administrator and custodian in the European Fund Services industry reflecting both the trust and value our clients place in our products, services and capabilities. With well established offices in Ireland and Luxembourg since the inception of UCITS, today services cross border assets in excess of $700bn. Through our offices in Jersey and Guernsey, with full Administration, Trustee and Custody licenses, we service closed and open ended Channel Islands domiciled funds totalling more than $23bn. Our continued success has been built on our ability to offer clients market leading solutions and choice choice of domicile, choice of service model and the expertise to facilitate multiple product types and fund structures. Our knowledge and range of servicing capabilities allows our clients to implement appropriate products and fund features to reach their target investor base and grow their business. We have evolved and developed our offering over the years to meet regulatory and investor demands. Today, utilising our global footprint, we manage some of the most complex service models in the industry. This places at the forefront of local market understanding and leading solutions in the European Fund Services industry. The ability to provide our clients insight into regional developments, choice of location and product, and access to our global operating model, distinguishes s offering in the market place. We continuously work with our clients, shaping and adapting to the ever changing regulatory and financial requirements that have made European domiciled funds such a global success. 3
Our presence in Europe Meet the team Chris Edge, Managing Director, Head of Luxembourg, Chris was appointed Head of Bank Luxembourg in November 2011. Previously Chris was head of product design across the global fund services range, and had responsibility for our transfer agency, fund accounting and derivatives services in Europe and Asia. Chris has over 25 years of experience in the financial services industry and has held senior positions in finance, operations, product management, sales and relationship management, and strategic business development. Ireland Luxembourg Channel Islands Fund services since 1990 306 funds in excess of $219.2 billion AUA Over 21% UCITS market share Fund services since 1988 816 funds in excess of $410 billion AUA Over 15% UCITS market share Fund services since 1990 $23 billion AUA Carin Bryans, Managing Director, Head of TSS Ireland, Carin is responsible for s Treasury & Securities Services business in Ireland, where we provide trustee, custody, fund accounting, transfer agency and hedge fund services to UCITS, non UCITS and hedge funds. Carin has been with (and heritage organizations) for 20 years and has held a wide range of positions including head of operations and head of client services. Carin holds her undergraduate degree in Finance and International Business from The University of Texas at Austin, and an MBA from The Michael Smurfit Graduate School of Business in Dublin. In 2010/2011 Carin was Chairman of the Irish Funds Industry Association, and she is a founding member of Women in Banking and Finance Ireland. Jenny Swan, Head of Channel Islands, Jenny is responsible for s offices in the Channel Islands, where our primary focus is the provision of a full suite of fund services to Jersey and Guernsey domiciled fund structures. Jenny has over 20 years experience in offshore financial services and has held senior positions within s Investment Bank. Jenny holds an MBA with distinction from Southampton University and is a member of the Institute of Directors. Jenny also serves on the executive committee of the Jersey Funds Association. Patrick O Brien, Executive Director, Patrick is responsible for profiling and developing the offshore markets in Europe. His experience and background has covered multiple responsibilities including client services, sales, operations and product management. He joined in 2008 as product manager for their transfer agency business in Europe before moving to this current role at the start of 2011. Patrick previously worked as head of shareholder services and distribution for GAM Fund Ltd, where his responsibilities covered a diverse fund range including multi-manager hedge funds, UK OEICS and UCITS. MBA qualified, he also holds the UK Investment Certificate. Stefan Corthouts, Executive Director, Global Business Development, Stefan rejoined in 2010 and is responsible for profiling and developing the offshore markets in Europe. He has previously worked for, Citigroup and State Street, across several European locations, and in various cross product and global offshore business development roles. With 18 years experience in the securities services business, Stefan gained a wealth of experience working with institutional investors. Stefan holds a degree in economics and business finance. Cyril Zastwanik, Executive Director, Cyril is based in Luxembourg and is responsible for profiling and developing fund services activity in Europe. He joined over 10 years ago and has held numerous positions in client service where he was responsible for all offshore Nordic clients. Other roles include relationship management for asset managers and business development covering the Benelux and Mediterranean region. 4 5
: Evolving the client solution Domicile Luxembourg Ireland Channel Islands Other Offshore EXPERIENCE Fund Structure UCITS QIF/SIF FCP/CCF Other Establishment/re-domiciliation PRODUCT Investment Strategy All investment strategies and asset classes Company Experience Market Entry Support Market Market Dynamics and Distribution Local Features CONTROL Self managed 3rd party Own Reporting Risk Compliance Board Regulatory Filing Accounts Tax Company Admin Governance considerations Control CLIENT Futureproof Innovation Strategy Distribution considerations Platforms - Banks - IFAs - CSDs - Transfer Agency - Fund Accounting - Local Timezone Capability Channel Connectivity - MIS - STP Global Ops Model Paying Agency International Fund Clearance - Pass the Book Operating Model - Local Language Support STRATEGY J.P. MORGAN Core Services Custody Trust & Fiduciary Fund Accounting Transfer Agency Distribution Network Hedged Share Classes Distribution Support Services Distributor Support Services Local Regulatory Reporting Investor Tax Reporting Local Paying Agency Complementary Services Global Derivatives Services Risk Analytics Securities Lending Compliance Reporting Performance Measurement Liquidity Cash OTC Clearing Foreign Exchange Collateral FUTUREPROOF INNOVATION 6 7
Your trusted partner Leadership As a premier cross border service provider in Europe we administer some of the most complex and innovative fund ranges in Ireland, Luxembourg and the Channel Islands. serves the needs of our clients by offering a world-class platform, coupled with straightforward, intelligent advice. We attribute our long-term success to our commitment of always putting clients interests first. We anticipate clients needs, providing guidance where necessary by being at the forefront of regulatory change and investor demands. Whether it s input and presence on key industry groups or working with industry partners on new product structures, is ideally placed to provide our clients with detailed market knowledge and information to assist them in meeting the challenges of their business. Broad based clients and services The core strength of our offering is the ability to facilitate and assist asset managers of varied fund sizes and product types. We pride ourselves on assisting new entrants into the European market place as well as servicing established and market leading names. Our current client base and their mix of products drive a variety of service models and fund features that ensures we are at the forefront of change and which allows all clients to access the solutions that are right for them. Businesses and product choice is a global leader in treasury and securities services, investment banking, asset management, private banking, and commercial banking. Through this franchise, and breadth of products, we are able to offer our clients a full complement of financial services enabling them to design and grow their business. Insights and thought leadership Our clients turn to us for innovative insights and solutions that will enable them to meet their strategic needs today and tomorrow. Experts from in Ireland, Luxembourg and Channel Islands actively engage in local industry initiatives through organisations like the Irish Funds Industry Association, ALFI and Jersey and Guernsey Funds Associations, to ensure that our client s interests are represented appropriately at a local and EU level. Culture By fostering a culture that stresses the highest ethical standards in support of clients, we have built one of the world s most trusted and respected financial services institutions. Our clients recognize that we understand their needs and act in their interest. Our focus on partnership, our emphasis on trust, and our desire to constantly perform better also helps us attract like-minded colleagues from the broadest, most intelligent talent pool in the world. Values Our values are reflected in the way that we conduct our business and in the results that we consistently achieve for our clients. We believe that shareholders will benefit as we do the right thing for our clients and the communities we serve. Ability to deliver innovative solutions As a leading financial services provider in the industry, our clients turn to us for insight and our firm-wide ability to deliver services that enable clients to meet their strategic needs. By aligning the businesses and our continued investment, we are in a unique position to meet client demands by rapidly developing and deploying enhanced services. This enables our clients to grow their distribution base whilst managing risk and market exposure cost effectively. Key Benefits: Global footprint facilitates bespoke service models and distribution Asian dealing desk NAV confirmation and production during US hours Ability to service global investor base during local hours (Asia, Europe, Americas) Proven distribution service delivering administration to a global investor base Full STP connectivity with all leading industry platforms and distributors Leading tax reporting capabilities Local experience and insight in Ireland, Luxembourg and Channel Islands Flexible and innovative MIS solutions Proven track record of migrating existing business and launching new products 8 9
Questions to ask when selecting fund domicile and product type Industry awards Cash Provider of the Year ICFA, European Service Provider Awards, 2011 Ireland Fund Administrator of the Year FundDomiciles.com, 2011 1. Who are your target investors? Are they institutional or retail? Global Infrastructure Fund Administrator of the Year Infrastructure Investor EMEA, 2012 2. Where are your investors located? Best Administrator Reporting Services HFMWeek EMEA, European Service Awards, 2012 3. What is your investment strategy and what constraints can you operate within (leverage, concentration, etc)? 4. Do you currently have operations or a presence in a European country? 5. What are the tax implications for your fund and/or your investors? 6. How liquid is your fund portfolio? 7. Are there any local language and time zone service requirements for investors or service providers? 8. How do your investors want to deal and settle into the fund? What platforms, intermediaries or settlement systems do you need to consider? 9. What are the available fund structures and what are the differences between them? 10. Do you need to become an approved promoter? If yes, how long will it take? 11. What are the capital requirements for a fund promoter? 12. What products and fund features do you need to consider in order to reach your target investor base and manage your investment strategy? 10 Innovation in Banking Technology The Banker Global (EMEA Based), Custody & Securities Services Technology Awards, 2012 European Hedge Fund Administrator of the Year Funds Europe EMEA, Funds Europe Awards, 2011 Top Rated Trustee in the Dublin Market R&M Survey, Dublin & Trustee and Custody Survey, 2011 Contacts For more information about our services, please contact: Patrick O Brien +353 161 23121 patrick.j.obrien@jpmorgan.com Stefan Corthouts +352 462 685033 stefan.corthouts@jpmorgan.com Cyril Zastawnik +352 462 685183 cyril.zastawnik@jpmorgan.com Luxembourg Chris Edge +352 462 685050 chris.edge@jpmorgan.com Channel Islands Jenny Swan +44 153 4626325 jenny.swan@jpmorgan.com Country Heads: Ireland Carin Bryans +353 161 23203 carin.bryans@jpmorgan.com 11
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