JP Morgan Chase Bank has signed a five-year agreement with wealth management software supplier Bravura Solutions to use its Rufus transfer agency platform.
The agreement, which commences in August 2009, extends JP Morgan's existing relationship with Bravura through its Worldwide Securities Services division, which provides transfer agency services in Dublin and Luxembourg.
It follows an announcement by JP Morgan that it intended to launch UK Transfer Agency, with JP Morgan Asset Management Marketing as its first customer.
The agreement demonstrates Bravura's capability to support the transfer agency industry across Pan European markets, said Bravura group chief executive Simon Woodfull.
Less than a month after being ordered to pay $27 million for failing to merge duplicate member accounts, Australia’s biggest super fund is again the target of a suit launched by the corporate regulator.
APRA’s latest statistics have revealed retail funds have a larger exposure to private debt than their industry counterparts.
APRA’s proposed governance reforms are stirring debate in the industry, particularly due to the ambiguity surrounding the suggestion that “perceived conflicts of interest” and “changes in personal circumstances” could create reputational risks.
CFS’ Kelly Power has described the US as an “open door” for attractive investment opportunities amid super funds’ growing interest in the offshore market.