Spanish financial group Liberbank has signed a distribution agreement with US group JP Morgan AM (JPMAM).
Through the deal, Liberbank will delegate the management of a selection of funds that it previously managed.
In addition, JPMAM will distribute some of its funds through Liberbank’s platform.
Liberbank termed the partnership with JP Morgan innovative for the Spanish asset management industry.
JPMAM has established presence in Spain since 1987 and managed $1.5trn (€1.3trn) of assets as of 31 March 2017.