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J P Morgan, Bank of NY report Q2 asset figures

US – J P Morgan Chase and the Bank of New York have both reported second-quarter assets under management and assets under custody figures.

J P Morgan said in its second-quarter report that assets under management rose 11% to 570 million dollars, while total assets under supervision were up 14% at 788 billion dollars.

Its investment management and private banking arm reported earnings of 93 million in the quarter, up from 58 million dollars a year ago. Revenues at the unit rose 19% to 805 million dollars “reflecting global equity market appreciation, net assets under supervision inflows, the acquisition of Retirement Plan Services (“RPS") and increased brokerage activity”.

Earnings at its treasury and securities services division rose nine percent to 121 million dollars – with revenues up 21% to 1.2 billion dollars.

It said: “Investor Services revenues increased 26%, as higher equity market valuations and a strong seasonal pick-up in customer volumes led to higher custody fees, securities lending fees and foreign exchange revenue.”

Meanwhile, the Bank of New York said its assets under custody have risen to 8.7 trillion dollars, from 7.8 trillion dollars a year ago.

Its investor services fees in the second quarter rose slightly to 229 million dollars, from 226 million dollars in the first quarter.

Overall, the Bank of New York’s securities servicing fees were up to 717 million dollars from 716 million dollars in the previous quarter. Total net income at the bank rose to 371 million dollars from 295 million dollars a year before.

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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