JPMorgan Worldwide Securities Services (JPMorgan WSS) plans to use its Australian operations as a fund accounting hub for the Asia-Pacific.
The phase-in of international accounting standards was allowing JPMorgan WSS to cement Sydney as its regional “centre of excellence” for fund accounting, according to Australian business head Tony Winwood. The Sydney office is now supplying accounting for major institutions in Taiwan, China, Korea and Vietnam. About 30 additional fund accountants were hired over the past 12 months, and more would be added following head office approval of the “centre of excellence” status, Winwood said.
The $355 billion AustralianSuper has acquired a $1.4 billion European industrial and logistics portfolio, owned by OMERS real estate subsidiary Oxford Properties. The nation’s biggest fund is targeting a $7.5 billion valuation for the venture and $35 billion allocation in European and UK region before 2030, supported by its biggest international office in London with 121 employees.
Darcy SongJanuary 14, 2025
