Fanning’s appointment is the latest addition to the bank’s growing Financing & Markets Products (“FMP”) division in Asia Pacific, following the recent announcement of Stewart Cowan as  Head of FMP for Australia, New Zealand and Japan and Michael Wynn joining the Australian transition management sales desk.

With extensive experience across all aspects of transitions, Fanning has spent the last 10 years with CitiGroup Global Markets where he managed over 250 transitions, including some of the largest and most complex executed in the Asia Pacific region. He will report to Rob Saffer, Global Head of Transition Management, and will be based in Sydney. He adds to an experienced team responsible for managing over AUD 180 billion worth of transitions in 2010.

“We’re delighted to welcome Patrick to the transition management team. With a proven ability to innovate and deliver exceptional execution, he will be instrumental in further building our franchise in ways which benefit the firm’s clients and spur the further growth of the transition management business in Australia and New Zealand,” said Saffer.

Cowan added: “Patrick is highly regarded within the superannuation and funds management industry as a leading practitioner and I am confident that he will bring an unrivalled commitment to our clients in Australia and New Zealand.”

“He has a track record of cultivating dynamic teams within the competitive Australian and Asian markets. I look forward to his contributions across all areas of the business from client relationships and business development through to project management and system development,” Cowan concluded.

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Mr Cowan’s financial services experience spans more than 20 years, the last 10 of which have been with J.P. Morgan in a variety of securities servicing roles. Mr. Cowan’s expanded FMP role now includes oversight of the firm’s clearance and collateral management, transition management and foreign exchange solutions.

Jane Perry, CEO of J.P. Morgan Treasury & Securities Services, Australia and New Zealand, said Mr Cowan has a proven track record in delivering results and his expertise in financing and market products provides a significant competitive advantage in key local markets.

“Stewart brings to the table significant experience, deep product knowledge and an unrivalled ability to navigate risk on behalf of our clients at all levels. He will continue to lead our securities lending operation but will expand his responsibilities to cover the full FMP suite of clearance, securities and derivatives collateral management, transition management, foreign exchange and passive currency overlay. In a sophisticated domestic market which relies heavily on financing and market products to manage risk, reduce cost and generate returns, Stewart will be instrumental in further enhancing our local and Asia Pacific clients’ businesses while at the same time driving J.P. Morgan’s success across these key markets,” Ms. Perry said.

Notably, Mr Cowan’s experience in Asia will be critical in capturing new opportunities in Japan, a quickly growing market for FMP solutions that is home to a large, sophisticated pool of potential clients.

Paul Wilson, International Head of Client Management & Sales for Financing and Market Products, said: “Japan is a market in which we see tremendous opportunity. While Japan has a sophisticated client landscape, many of these players have not traditionally sought to access the full array of FMP solutions. However, given the significant risk and cost benefits that our suite of FMP solutions can deliver, we’re seeing an increase in demand especially with respect to collateral management and securities lending. As such, we are ideally placed to work even closer with our Japanese clients and the Japanese market to deliver leading edge solutions that create real and measurable results for their business.”

Joining the enhanced financing and market products team will be Michael Wynn, who returns home to Australia to lead transition management sales after several years with   J.P. Morgan based in the United Kingdom. Mr Wynn’s most recent role was with the investment bank, where he managed the passive currency overlay execution desk.

“We are lucky to have someone with Michael’s expertise return to Australia to service our clients’ needs. With a proven track record across different areas of the business, he will be a valuable addition to the team,” concluded Ms Perry.

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City Super, the superannuation fund for current and former employees of Brisbane City Council, has appointed J.P. Morgan Treasury & Securities Services (TSS) as custodian and administration provider.

Bryan Gray, Head of Treasury & Securities Services Sales and Client Management said the new $1.5 billion mandate further strengthened J.P. Morgan’s position in the investment and administration sector.

“Although custody and administration is increasingly becoming a scale driven business, clients are continually seeking tailored solutions. As a provider, we are constantly looking for ways to meet these needs and believe this was a determining factor in winning the mandate,” he said.

City Super has already announced it will merge with an existing client of J.P. Morgan, Local Government Super (LG Super), on 30 June 2011 and therefore will require an investment administration provider with a strong transition management offering. J.P. Morgan was able to demonstrate its substantial experience in executing large scale transition management projects, including those driven by fund mergers or by major changes to a fund’s asset allocations.

Our previous experience with fund mergers definitely worked in our favour, as we could show real world examples of our discipline in this area. With industry consolidation expected to continue, J.P. Morgan’s fund merger experience will continue to position us as a leading service provider,” Mr Gray said.

Once the two funds are merged, J.P. Morgan will also look at ways of optimising the custody and administration process.

“We are currently in discussions with LG Super and City Super to find ways to optimise the custody and administration offering. We are committed to ensuring our services are the best possible fit for the new fund including providing tax propagation, currency overlay and securities lending services,” he said.

The mandate win reinforces J.P. Morgan Treasury & Security Services’ commitment to the Australian & New Zealand market after hiring more than 100 additional employees during 2010, many in senior positions. The hires were not only in line with increased growth expectations but also to better service existing clients.

“Our prospects in 2011 are strong and we have the right team in place to continue the growth we have seen locally and in Asia Pacific. We will continue to develop strong partnerships, elevate our client service offering and enhance our range of market leading products,” Mr Gray concluded.

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