Bloomberg – JPMorgan Chase & Co., the second- biggest U.S. bank, created a group to help fund managers broaden their trading and assure investors that assets won’t be tied up by a brokerage failure like the one that felled Lehman Brothers Holdings Inc.
The team also will help mutual funds get access to hedge fund services such as financing, Michael Minikes, chief executive officer of JPMorgan Clearing Corp., the bank’s U.S. broker-dealer, said in an interview yesterday. The group will draw on resources of the New York-based bank’s prime brokerage and securities services units, he said.
