Increased Liquidity for JP Morgan Chase Clients with Lewco

August 30, 2001 ( - JP Morgan Chase & Company's Treasury and Securities Services division will assume responsibility for the securities lending operation of Lewco Securities Corporation, a broker/dealer controlled by J P Morgan.

Lewco’s securities lending product will round out the services offered by J P Morgan’s securities clearance and collateral management businesses, which operate under the service mark GlobeClear, providing added liquidity in securities positions to clients of J P Morgan Chase, effective September 3, 2001.

The Lewco securities lending team will continue to operate from their current location in Jersey City, New Jersey. Donald Sorrentino, head of the new securities lending team will report jointly to Darryl West, senior vice president and business head for GlobeClear, and Fred Bromberg, senior vice president and business development executive in New York.

– Camilla Klein