A $75 million investment in preparation for the single European currency has begun to pay off for Chase Manhattan Corp.-in the form of a sizable piece of business from J.P. Morgan & Co.

Chase said Monday that its New York-based competitor tapped it to be the primary supplier of European Currency Unit clearing services, starting next week. After Jan. 4, 1999, Chase would provide similar support for the new euro.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.