Dinkar Jetley, new chief executive of JP Morgan’s custody arm, plans to almost triple its direct custody and clearing business in the next four years, taking it into as many as 25 markets.

In his first interview since taking up the post at JP Morgan Worldwide Securities Services in June, Jetley said: "When it comes to domestic custody and clearing we want to continue to build out our local footprint in markets around the world where it makes sense for us." JP Morgan WSS has $16.3 trillion in assets under custody. He added the plan is "part and parcel of our global expansion strategy for JP Morgan".