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January 20, 2020

JPMorgan backs investment management tech firm Arcesium

US-based banking group JPMorgan has invested in investment management technology company Arcesium.

Financial details regarding the deal were not revealed.

The latest deal builds on the two parties’ existing relationship. This includes the bank’s Securities Services unit that serves alternative fund managers and asset managers, offering them fund administration and outsourcing solutions.

Commenting on the alliance, Arcesium managing director and head of commercial strategy David Nable said: “JPMorgan is an industry leader in Securities Services and we have long valued the opportunity to help them streamline and automate operations for their alternative asset manager clients, driving efficiency and innovation through technology.”

The D. E. Shaw group and Blackstone Alternative Asset Management (BAAM) launched Arcesium in 2015. Arcesium offers asset managers software and service solutions for their post-trade activities.

The firm currently employs more than 850 people across offices in New York City and Hyderabad, India.

JPMorgan global head of Securities Services Teresa Heitsenrether said: “The combination of JPMorgan’s Securities Services and Arcesium’s innovative technology is driving more scalable solutions to our clients.

“Through its partnership with Arcesium as a technology provider, JPMorgan has offered its alternative asset manager clients solutions to their most complex operations and data management challenges.”

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