James C. Ferguson to Run JPMorgan's Hedge Fund Unit
James C. Ferguson has been appointed by an American multinational banking JPMorgan Chase & Co. to manage the unit that helps private equity and hedge funds with accounting, valuation and other administrative tasks after trades, according to Bloomberg.
Ferguson,
a 14-year veteran of JPMorgan, will oversee the Global Alternative
Investment Services team, according to a memo last week from the New
York-based bank. He will report to Stephanie Miller, who held the
investment-services position until being promoted to head of Global Fund
Services in March 2014.
Ferguson’s
business resides within JPMorgan’s custody and fund-services division,
led by Nick Rudenstine. Custody and fund services’s revenue rose 10
percent since 2012, corporate and investment bank chief Daniel Pinto
said in a Feb. 24 presentation.
“This
is a business where the main focus will be to keep growing, but also to
find a scalable solution for clients that make the overall efficiency
ratio of the business better than it is today,” Pinto said.
Ferguson
will focus on improving technology used by clients and working with
other teams to improve profit. He previously was in charge of business
controls within Global Fund Services. His promotion was reported earlier
by the Wall Street Journal.
Source: Bloomberg
