News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

JP Morgan to buy South African business

JP Morgan Investor Services (JPMIS) is in exclusive negotiations to buy TASC Administration, South Africa's largest third-party fund adminstrator, from Sanlam Investment Management.

Sanlam conducted a beauty parade of potential buyers, thought to include State Street and Bank of New York, before settling on JP Morgan. It expects to sign an agreement on the sale shortly.

WSJ Logo