J.P. Morgan Chase & Co.
270 Park Avenue, New York, NY 10017-2070
NYSE symbol: JPM
jpmorganchase.com
February 22, 2001
News release: IMMEDIATE
J.P. Morgan Chase & Co. Announces Acquisition of
Colson Services Corp.
J.P. Morgan Chase & Co. announced today that it has acquired Colson Services Corp. Under the
terms of the transaction, Colson Services Corp. will operate as a subsidiary of J.P. Morgan Chase
& Co. within the firm’s Institutional Trust Services division. Financial terms were not disclosed.
Colson Services Corp., which was established in 1987, is principally engaged in the financial
record-keeping business for a variety of government-guaranteed and non-guaranteed loan
programs. Currently, Colson services approximately 85,000 secondary-market loans with an
outstanding value exceeding $30 billion.
“Institutional Trust Services and Colson have worked together very closely for a number of years
and we’re excited about the new opportunities generated by this transaction,” said Peter DelCol of
Colson Services Corp.
JPMorgan’s Institutional Trust Services (formerly Chase Capital Markets Fiduciary Services)
formed a strategic alliance with Colson Services Corp. in July 1998. The alliance enabled
Institutional Trust Services to leverage Colson’s expertise to complement the division’s offerings.
As part of the arrangement, JPMorgan provided a variety of services to support the business needs
of Colson and its clients.
“This acquisition reinforces JPMorgan’s position as a leading provider of outsourcing support to
government agencies,” said Michael K. Clark, executive vice president and business executive for
JPMorgan Institutional Trust Services. “The addition of Colson’s wide range of loan servicing and
record-keeping expertise is a natural progression and is consistent with the bank’s strategy to grow
its institutional trust business.”
Colson Services Corp. acts as the Fiscal and Transfer Agent (FTA) for the Small Business
Administration 7(a) Secondary Market Program and Central Servicing Agent for the Small Business
Administration 504 Loan Program. The company also provides loan record-keeping and paying
agent services for a number of other programs including the Federal Agriculture Mortgage
Corporation’s Farmer Mac II program and the Finance Authority of Maine (FAME) secondary
market program for FAME-insured business loans.
Institutional Trust Services is one of three divisions in JPMorgan's Treasury & Securities Services
(formerly Chase Global Services), the bank's information and transaction services franchise.
Institutional Trust maintains a global network of more than 30 offices in 12 countries, including
Chase Trust Bank in Tokyo and Chase Trustees Ltd. in London, with more than 1,800 employees
worldwide. Through this global network, Institutional Trust Services delivers a broad range of
products and services, including traditional corporate trust as well as structured finance, global
securities clearance, collateral management settlement services, ADR services and outsourcing
support to a variety of U.S. and international government agencies. The division services more
Press contact:
Ann E. Lynn
212-946-8618
ann.e.lynn@chase.com
J.P. Morgan Chase & Co.
News Release
than $3.0 trillion in debt worldwide. It has embarked on a program of global growth via strategic
product development and marketing, aggressive investment in internet-based capabilities and a
strategic acquisition program focused on adding new products, distribution channels and extending
its client base.
J.P. Morgan Chase & Co. is a premier global financial services firm with assets of $715 billion and
operations in over 60 countries. The firm is a leader in investment banking, asset management,
private equity, consumer banking, private banking, e-finance, and custody and transaction
servicing. Headquartered in New York, JPMorgan Chase serves 32 million consumer customers
and over 5,000 corporate, institutional, and government clients. The firm trades on the New York
Stock Exchange under the symbol “JPM” and is one of the 30 stocks that makes up the Dow Jones
Industrial Average. For more information, visit www.jpmorganchase.com.
#
#
#