-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N4H5Yy6M9BHzfeq8FVselTUW+TmQhl/SPAVyc1y3TIt8oLv13CFjPOhoVBN2hTo1 UFGyPuVRVaJyfiwkB09x8g== 0000068100-96-000582.txt : 19960814 0000068100-96-000582.hdr.sgml : 19960814 ACCESSION NUMBER: 0000068100-96-000582 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960813 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960813 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN J P & CO INC CENTRAL INDEX KEY: 0000068100 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 132625764 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05885 FILM NUMBER: 96610387 BUSINESS ADDRESS: STREET 1: 60 WALL ST CITY: NEW YORK STATE: NY ZIP: 10260 BUSINESS PHONE: 2124832323 MAIL ADDRESS: STREET 1: P O BOX 271 STREET 2: C/O WILLIAM D HALL CITY: WILMINGTON STATE: DE ZIP: 19899 8-K 1 COVER PAGES ANNOUNCING SALE OF CASH PROCESS. BUS. 1 _________________________________________________________________ __________ _________________________________________________________________ __________ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ______________ Date of Report (Date of earliest event reported) August 13, 1996 J.P. MORGAN & CO. INCORPORATED (Exact name of registrant as specified in its charter) DELAWARE 1-5885 13-2625764 (State or other juris- (Commission (IRS Employer diction of File Number) Identification No.) incorporation) 60 WALL STREET, NEW YORK, NEW YORK 10260- 0060 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (212) 483- 2323 _________________________________________________________________ (Former name or former address, if changed since last report) _________________________________________________________________ __________ _________________________________________________________________ __________ 2 ITEM 5. OTHER EVENTS On August 13, 1996, the Registrant issued a press release announcing it has agreed to sell its institutional U.S. cash processing business to HSBC Financial Institutions, a division of Marine Midland Bank. A copy of such press release is filed herein as Exhibit 99. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) Financial Statements NONE. (b) Pro Forma Financial Information NONE. (c) Exhibits 99. Copy of press release of J.P. Morgan & Co. Incorporated dated August 13, 1996. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. J.P. MORGAN & CO. INCORPORATED ______________________________ (REGISTRANT) /s/ PATRICIA A. JONES ________________________ NAME: PATRICIA A. JONES TITLE: MANAGING DIRECTOR DATE: August 13, 1996 EX-99 2 PRESS RELEASE ANNOUNCING SALE OF CASH PROCESS. BUS 1 EXHIBIT INDEX Exhibit 99 - Press release of J.P. Morgan & Co. Incorporated dated August 13, 1996. 2 Exhibit 99 August 13, 1996 J.P. Morgan to sell institutional U.S. cash processing business _________________________________________________________________ _____________ J.P. Morgan & Co. Incorporated today announced it has agreed to sell its institutional U.S. cash processing business to HSBC Financial Institutions, a division of Marine Midland Bank. The sale is expected to close by the end of the year, subject to regulatory approvals. Terms of the transaction were not disclosed. The sale of these activities is expected to have no material effect on Morgan's ongoing financial results. The agreement follows Morgan's sale of its global and local custody and U.S. commercial paper issuing and paying agency businesses, and its decision to exit its local cash processing businesses in Europe. "HSBC Financial Institutions was selected based on a number of factors - all underlined by its commitment to continued service excellence and providing a smooth transition for our clients, as well as their interest in our employees," said John W. Field Jr., global head of Morgan's cash services group and head of Morgan's offices in Delaware. All Morgan employees involved in the institutional U.S. cash processing business will be offered jobs by HSBC Financial Institutions or retained by Morgan. Most of those employees are located in Newark, Delaware, where HSBC Financial Institutions intends to establish its primary U.S. cash processing center. J.P. Morgan's role as operator of the Euroclear System, the world's largest clearance and settlement system for internationally traded securities, will not be affected by the sale. Also not affected by this sale are the cash management and processing services Morgan offers for private clients. J.P. Morgan is a global banking firm that serves clients with complex financial needs through an integrated range of advisory, financing, trading, investment, and related capabilities. Marine Midland Bank is the principal subsidiary of HSBC Americas, an indirectly-held, wholly-owned subsidiary of HSBC Holdings plc. With over 3,300 offices in 72 countries and assets of $368 billion at June 30, the HSBC Group is one of the world's largest banking and financial services organizations. -----END PRIVACY-ENHANCED MESSAGE-----