JP Morgan appoints custodian bank head

Ridhima Sharma
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JP Morgan has appointed Thomas Brand as the head of the custodian bank, effective October 2018. He will take over the management and will be responsible for Germany and Switzerland.

Brand succeeds Michelle Grundmann, who joined the Frankfurt team of State Street Corporation in February this year. In addition, Brand will also become part of the local management of JP Morgan.

In his new role, he intends to drive the company’s growth strategy, working with the heads of Luxembourg and Ireland for this purpose. His responsibilities include setting revenue and cost targets, filling leadership roles throughout the organization, and interacting with clients and regulators.

Prior to this, Brand headed the customer management of the Deutsche Wertpapierservice Bank (DWP Bank), which, as a transaction bank, primarily handles the securities processing for financial institutions from the savings bank and cooperative sector. He has held numerous executive positions, including head of Investment Services at BNY Mellon and head of sales, relationship management and product teams at BNY Mellon, BNP Paribas Securities and JP Morgan.