J.P. Morgan Asset Management has teamed with Hazeltree, which provides cloud-based treasury solutions, to provide a new liquidity management solution to help clients streamline their complex financial needs, according to a press release.
With the new partnership, private fund manager clients will now be able to manage multiple bank relationships across whole fund structures, onboard complicated legal entities and facilitate more transactions through numerous counterparties.
Through all of the new functionalities, clients will now have more transparent views into their funds and liquidity accounts across every banking relationship they have. Because of that, they'll be able to track and forecast cash balances with more ease, the release stated.
Clients will also have the option of turning on robotic automation to calculate excess investable cash and then recommend decisions on investment opportunities, based on user-defined constraints and needs.
The option is currently available to clients of both J.P. Morgan and Hazeltree, according to the release. John Donohue, CEO of Asset Management Americas and head of Global Liquidity at J.P. Morgan, said it is important for clients to manage liquidity.
"By partnering with Hazeltree we are able to provide clients with secure, immediate access to a suite of investment products with full transparency across their global portfolio," he said, according to the release.
Hazeltree President and CEO Sameer Shalaby said the new solution is an upgrade from many firms' old ways.
“Many firms still rely on spreadsheets and office tools to manage cash across their large number of legal entities and a multitude of banking relationships,” he said, according to the release. “Our integrated platform not only centralizes all cash and liquidity holdings interactions with consistent controls and workflows, but the opportunity exists to easily invest excess cash at a variety of cash products with J.P. Morgan.”
J.P. Morgan recently reported a sharp earnings drop of 51 percent in its earnings report for the second quarter, attributable to the economic woes of the pandemic. CEO Jamie Dimon said the economy's future is uncertain, although he noted the company had a "fortress" of a balance sheet that would help it weather the coming troubles.