Scottish Investment Operations welcomes J.P. Morgan

Raymond Wales

With over 650 employees based in Scotland, J.P. Morgan joins as SIO anticipates record revenues over the last year.

The member funded organisation, led by chief executive Raymond Wales, announced earlier this year its drive to double in size over the next 2 years. It focuses on the operational support for fund management, asset servicing and investment banking companies based in Scotland. Its membership consists of top global organisations managing an estimated £6,000 billion of customer assets and employing over 5,000 people in Scotland.

SIO has also outlined a broader range of services, partnering with Mental Health Response to help its members and employees alike to understand what mental health means for them. 

Raymond Wales, chief executive of SIO, said: “We are on course for a record year and I am thrilled to welcome in J.P. Morgan to SIO. I look forward hugely to working with them, and on their behalf, along with our wider membership base.

“As part of our dialogue with our members, the willingness to exchange thinking, learn and collaborate with each other has never been so marked – and is of great benefit to the wider Scottish economy.

“We have also recognised that our members want a broader dialogue, covering a wider range of challenges inside and outside of the workplace. In response I am delighted to announce a first initiative with Mental Health Response.

“Socially we are more aware and prepared to talk about mental wellness. We are not claiming to be experts or have all the answers but aim to provide our members, through this partnership, access to some information and tools that we hope will be useful to them as employers and their colleagues whenever is necessary.”

SIO relaunched in 2018 following resurgent demand from companies seeking greater collaboration over common business challenges, such as changing regulatory landscapes. It aligns its agenda with the strategic aims of other bodies representing Scottish business such as Scottish Financial Enterprise and FinTech Scotland.

J.P. Morgan, meanwhile, signalled its long-term commitment to Glasgow by revealing it has narrowed down its search for a new and bigger base in the city.

The US banking giant said it is looking for bigger premises to support the continuing expansion of its global technology hub in the city.