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J.P. Morgan custody exec retires

A long-standing J.P. Morgan executive in its securities service business has retired after nearly 20 years with the company.

Bryan Gray spent close to 20 years at J.P. Morgan, which is the largest custodian in Australia.

Prior to this, he spent about 12 years at State Street in Australia, heading sales in the custody business. He has also served as the chair of the industry association.

"Bryan is a widely respected, knowledgeable and thoughtful leader. He is known within the industry for his partnership and exceptional client focus, and this has helped J.P. Morgan achieve the #1 Custodian position in the local market," J.P. Morgan head of securities services, Australia and New Zealand Nadia Schiavon said.

"As a leader who has created strong personal and professional relationships, his mentorship and friendship will be missed."

Last year, J.P. Morgan appointed Nick Paparo to its head of platform sales, securities services, Australia and New Zealand.

J.P. Morgan is the largest custodian in Australia, according to December end statistics from he Australian Custodial Services Association's (ACSA) biannual statistics. It has a nearly 25% share of the total $4 trillion local custody market. It won several custody mandates last year; CareSuper, TelstraSuper and Xplore are some examples.

It was followed by Northern Trust at $660.9 billion, which has a 16% market share, and Citi at $589.7 billion, with a 15% share.

Read more: J.P. MorganBryan GrayNadia SchiavonNick Paparo
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