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Home | News | JP Morgan secures $6bn custody mandate with LarrainVial Asset Management

JP Morgan secures $6bn custody mandate with LarrainVial Asset Management

Agreement with Chilean asset manager will cover its fund portfolios in Cayman, Chile and Luxembourg.

JP Morgan has been appointed to provide custody and fund administration services to Chilebased LarrainVial Asset Management

Founded in 1998, LarrainVial AM is the asset management division of major Chilean financial services provider LarrainVial, which is present in six countries including Chile, Colombia, Mexico, Peru, and the United States.

The agreement with JP Morgan will cover LarrainVial AM’s fund portfolios in Cayman, Chile and Luxembourg, totalling $6 billion in assets under management.

Scott Markowitz, Americas head of custody at JP Morgan, said: “We are proud to begin our partnership with LarrainVial and to support their business objectives as we grow our strong roster of Latam clients in the custody and fund administration space. This mandate reinforces JP Morgan’s securities services differentiated capabilities and highlights our commitment to growing our institutional client base in Chile and the Latin America region.”

JP Morgan said the mandate was awarded following a competitive RFP process. The win marks the second contract win for the custodian in as many weeks, following a contract extension with Norwegian asset manager Storebrand.

Commenting on the new agreement, Ladislao Larrain, CEO at LarrainVial, added: “JP Morgan’s integrated custody and fund administration solution, client-centric service model and commitment to the Latam region were keys to our final decision to choose JP Morgan. They have already proven to be a strong, strategic partner and we are confident will help support our global growth ambitions.”

Note published on Global Custodian, by Chris Lemmon.


LarrainVial S.A. LarrainVial Chile. Isidora Goyenechea 2800, 15th Floor, Las Condes, Santiago, Chile.
Tel.: +562 2339 8500Teléfono: +562 2339 8500

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