JP Morgan’s former global head of securities services Teresa Heitsenrether has received Global Custodian’s Lifetime Achievement award at the 2023 Industry Leaders event in New York last night.
Serving at JP Morgan for 35 years and at the helm of the securities services unit between 2015-2023, Heitsenrether racked up a number of significant milestones to transform the division.
Under her leadership, the business increased revenue by more than 22%, grew assets under custody by nearly $9 trillion, and more than doubled the custodian’s assets under administration. The business won some of the industry’s largest client mandates in history and launched Fusion, a data platform designed to help institutional investors better manage and leverage data in a scalable, efficient way.
In June this year, JP Morgan announced that its long-standing head was set to become the firm’s chief data and analytics officer, responsible for the adoption of artificial intelligence across the company. The move was a statement from the organisation to deploy one of its top executives to oversee data use, governance and controls with the aim of harnessing AI technologies, and for Heitsenrether, who left a legacy within the securities services unit.
She has also earned multiple recognitions throughout the financial services industry during her career and was included in Global Custodian’s 30 Individuals to Shape the Future of Securities Services in 2019 – something she quickly lived up to.
Upon collecting the award last night, Heitsenrether said: “For me this award is special because it is a recognition of the sponsorship and support I’ve received over many years. I am deeply grateful for the many mentors and colleagues who have played such a key role in shaping my career journey.
“To my JP Morgan partners who have been with me on this journey, I offer my sincere thanks and appreciation. I am immensely proud of the franchise we built together, and I know it will create value for our clients and the firm for decades to come.”
Heitsenrether follows other securities services heads who have won the award in recent years including Citi’s Okan Pekin, BNP Paribas’ Patrick Colle and Standard Chartered’s Margaret Harwood-Jones. Earlier this year in London, former BNY Mellon CEO Todd Gibbons was also a recipient.