View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
January 25, 2018

Robeco inks outsourcing deal with JPMorgan

Dutch asset manager Robeco has outsourced part of its operations activities to JPMorgan, resulting in the layoff of around 70 Rotterdam-based staff.

Under the arrangement, JPMorgan will offer fund accounting, operations, custody, depositary, transfer agency and securities lending to Robeco.

The move forms part of the asset manager’s 2017-2021 strategic plan that aims international growth in investment and client-servicing activities.

Robeco said that JPMorgan’s scale and technology will boost its adaptability to changing market conditions, as well as enable to it develop more sophisticated products and respond more swiftly to client demands.

The outsourcing process will commence this month and is expected to be completed within two years.

Affected staff will be entitled to the firm’s social plan that includes outplacement counselling. Robeco’s investment policies and teams will however, remain unchanged.

Robeco CEO Gilbert Van Hassel said: “Outsourcing is the prevailing trend in the industry. As a consequence of the global playing field and increasing complexity, asset managers need a specialised operations provider with a global presence. Given the impact of this decision on our people, this is not a decision that we have taken lightly and we will implement the outsourcing with the greatest care for the people involved.”

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International