Epstein File EFTA00747571: Jes Staley, Peter Mandelson and Asset (DS9)

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Epstein File EFTA00747571: Jes Staley, Peter Mandelson and Asset (DS9)

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This document is email correspondence dated March 30, 2010, from Jes Staley, Chief Executive Officer of the Investment Bank at J.P. Morgan, to Peter Mandelson. The email discusses asset management regulations, fiduciary banking practices, and regulatory policy regarding bank ownership of asset managers and capital requirements.

👤 Named in This Document

Jes Staley Peter Mandelson

🔑 Evidence Keywords

asset BlackBerry client

📋 Key Excerpts6

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Excerpt 1

Fiduciary: **Asset** Management Regulations that protect client investments from other banking activities have proven successful during recent financial crises

Excerpt 2

**Asset** Management is a profitable business entirely suited to fiduciary bank ownership with limited capital needs and no risk weighted assets.

Excerpt 3

Prohibiting bank ownership of **asset** managers is unnecessary and eliminates a source of prudent diversification for client holdings and long-term profit