Local Man To Head JPMorgan’s Trust Services
Rockaway resident Mike Clark, head of JPMorgan’s Institutional Trust Services business, will assume leadership of the Investor Services business, in addition to maintaining his current role, it was announced this week.
In his expanded role, Clark will continue to report to Heidi Miller, Chief Executive Officer for JPMorgan Chase’s Treasury & Securities Services (TSS), and will remain a member of the TSS Executive Committee.
“JPMorgan Chase has been a leader in the custody business for over 50 years,” said William B. Harrison Jr., Chairman and Chief Executive Officer.
Clark’s experience at JPMorgan Chase spans 12 years, where he has led the Institutional Trust Services division to double digit growth across its business lines.
Institutional Trust Services offers services to debt and equity issuers, intermediaries and investors in the global capital markets, and currently, JPMorgan’s Corporate Trust Securities under administration are $6.6 trillion. Prior to joining JPMorgan Chase in 1994, he developed servicing models and products for the retirement services, global custody and institutional trust businesses at Bankers Trust Company.
“Mike’s broad range of business experience and expertise on both the investor and issuer sides of the securities industry will enable us to grow both the Investor Services and Institutional Trust Services businesses by increasingly leveraging cross-business opportunities and gaining market share from key competitors. I am confident Mike will add tremendous value in his new role,” Miller said of Clark’s new assignment.
“The opportunity to lead an established, best-in-class global provider in the securities services industry is extremely exciting,” said Clark.
“We look forward to continuing strong partnerships with our clients to help them realize the benefits that the scale, depth and breadth of JPMorgan Chase delivers as the premier service provider in today’s marketplace.”