Global Custodian magazine has named Tim Fitzgerald, Global Head of Securities Services at J.P. Morgan, to its list of industry legends. Fitzgerald was honored at the magazine’s recent Leaders in Custody awards, which took place in London on May 30, 2024.
Under Fitzgerald’s leadership, Securities Services, which provides post-trade services to institutional asset-manager and asset-owner clients, has experienced impressive growth. The business had a record year in 2023, reporting $4.8 billion in revenue. Today, it has more than $32 trillion in assets under custody, double the amount it held a decade ago.
“Tim is an outstanding leader. During his tenure, the Custody & Fund Services business has delivered unprecedented growth. Assets under custody and assets under administration have grown to record levels after executing the largest fund conversions in history.”
Daniel Pinto
President and COO, J.P. Morgan
Fitzgerald joined J.P. Morgan as the Global Head of Fund Services in 2016, and has played a central role in transforming the business. He was promoted to Global Head of Custody & Fund Services in 2021. Writing to announce his appointment as new Global Head of Securities Services last year, President and COO Daniel Pinto said: “Tim is an outstanding leader. During his tenure, the Custody & Fund Services business has delivered unprecedented growth. Assets under custody and assets under administration have grown to record levels after executing the largest fund conversions in history.”
In recent years, the business has focused on investments in technology to enhance the scale, efficiency and resiliency of its platforms, and to boost its capabilities in alternatives and exchange traded funds (ETFs). These have enabled the business to grow revenue and win major new mandates.
Global Custodian also recognized the firm’s data solutions business, Fusion, which helps institutional investors manage the vast array of data they need to run their business every day and the operational efficiency of their businesses. Fusion, which gives clients access to custody, fund accounting and middle office data via API or the cloud, was named Data Project/Initiative of the Year, and the Sustainable Investment Data Solutions service, available on Fusion, was named ESG Initiative of the Year.
“The Securities Services industry has become increasingly data driven,” Fitzgerald said. “Fusion builds on our efforts to tackle long-experienced pain points for clients in managing data at scale, especially as their portfolios and investments grow in size and complexity.”
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