JPMorgan to Acquire Institutional Global Custody Portfolio of Nordea

LONDON, March 27 /PRNewswire/ --

- Pan-Nordic JPMorgan Branches To Be Established

JPMorgan Worldwide Securities Services (WSS), a leading provider of 
global custody and fund services, today announced its intent to acquire the 
institutional global custody portfolio of Nordea. Nordea is a Nordic leader 
in institutional global custody with approximately EUR200 billion in assets 
under custody. As a result of the acquisition, JPMorgan WSS also intends to 
offer local depository services to in-country mutual funds through the 
establishment of new branches in Denmark, Finland and Norway together with 
an expanded presence in Sweden. Nordea will retain its sub-custody franchise 
in the region.

As part of the agreement, Nordea will appoint JPMorgan as global
custodian for its internal institutional clients such as Nordea Funds and
Nordea Life & Pensions.

JPMorgan is currently the leading non-Nordic global custodian in the
region supporting a broad range of Nordic-domiciled clients. It has a team of
over 30 relationship, service, product and client technology professionals
dedicated to the region and, following this transaction, which is subject to
regulatory approval, this will expand to approximately 75 professionals.

"This acquisition emphasizes JPMorgan's commitment to the Nordics," said
Conrad Kozak, global head of JPMorgan's Securities Company. "A key
cornerstone of our strategy is to align ourselves more closely in-region with
clients. To that end, this acquisition is the next stage of evolution of our
Nordic expansion."

"Nordea wants to focus on services where we can truly add value to our
customers," said Birger Gezelius, head of financial institutions at Nordea.
"Our current institutional clients will gain access to JPMorgan's
best-in-class global custody offering and value-added services, while
allowing us to strategically focus on our core competencies."

JPMorgan has been a major player in the Nordic asset servicing arena for
over 15 years," said Stuart Thompson, head of Nordic sales and relationship
management for JPMorgan's Securities Company. "By offering clients local
touch and extensive regional experience, combined with advanced global
capabilities that include services such as alternative investment
administration, derivatives servicing, collateral management and securities
lending, we can further extend our client offering in the region."

With total assets under management in excess of EUR2 trillion, the Nordic
region is one of the largest and fastest growing asset servicing markets in
the world.

JPMorgan's investment bank advised JPMorgan Worldwide Securities Services
on this transaction.

About JPMorgan Worldwide Securities Services' Securities Company

JPMorgan Securities Company is a premier asset servicing provider that
helps institutional investors and alternative asset managers optimize
efficiency, mitigate risk and enhance revenue. Part of JPMorgan Worldwide
Securities Services, a division of JPMorgan Chase Bank, N.A., the Securities
Company leverages the firm's unparalleled scale, leading technology and deep
industry expertise to service investments around the world. It has $15.9
trillion in assets under custody and $4.6 trillion in assets under
administration. For more information, go to http://www.jpmorgan.com/visit/sc

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services
firm with assets of $1.6 trillion and operations in more than 60 countries.
The firm is a leader in investment banking, financial services for consumers,
small business and commercial banking, financial transaction processing,
asset management, and private equity. A component of the Dow Jones Industrial
Average, JPMorgan Chase serves millions of consumers in the United States and
many of the world's most prominent corporate, institutional and government
clients under its JPMorgan and Chase brands. Information about the firm is
available at http://www.jpmorganchase.com.

About Nordea

Nordea's vision is to be the leading Nordic bank, acknowledged for its
people, creating superior value for customers and shareholders. We are making
it possible for our customers to reach their goals by providing a wide range
of products, services and solutions within banking, asset management and
insurance. Nordea has around 10 million customers, approximately than 1,300
branch offices and a leading netbanking position with 4.9 million
e-customers. The Nordea share is listed on the OMX Nordic Exchange in
Stockholm, Helsinki and Copenhagen. More information is available at
http://www.nordea.com.

Media Contacts:

    John Johmann
    JPMorgan 
    +44(0)20-7325-7155 
    John.Johmann@jpmorgan.com

    Anders Edlund Nordea 
    +46-702-29-16-91 
    Anders.J.Edlund@nordea.com