J.P.Morgan Names New Head of Global Custody

November 27, 2009 (PLANSPONSOR.com) - Rajen M. Shah, global head of custody at J.P. Morgan, has been replaced by Nick Rudenstine, global securities lending product head.

According to Global Custodian, an Asset International publication, a spokesperson at J.P.Morgan said Shah will be “seeking other opportunities” within the bank, and Rudenstine will start immediately. J.P.Morgan declined to explain why the change had been made. 

Most recently, Rudenstine served as Global Securities Lending Product Head within Financing and Markets Products (FMP). Other major roles have included Chief Operating Officer for FMP and Strategy Executive, according to the news report.

Prior to his role as global head of custody, Shah was Senior Vice President and Global Business Head for Clearance and Collateral Management at J.P. Morgan. He previously held various positions within J.P. Morgan’s Investment Bank, including European Head of Derivatives Middle Office and Global Head of Derivatives Collateral Management Operations.