Mellon was selected after considering many factors, such as its technology, operations, risk, compliance and control environments, and commitment to service and innovation.
"The appointment of Mellon to provide stock transfer agent services and employee plan services enables us to continue to deliver the highest levels of service to our issuer clients and their shareholders," said Patrick Colle, Senior Vice President and head of JPMorgan's ADR group. "This arrangement demonstrates the long-standing strategy of JPMorgan's ADR business to continually innovate and enhance services and technologies."
Mellon will begin servicing JPMorgan's new stock transfers and employee plan services during the fourth quarter of 2005. Stock transfer agency services involve managing the official shareholder records of the company it services, pays dividends to shareholders, mailing proxy materials and tabulating proxy votes, among other responsibilities.