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ANZ agrees to sell Custodian Services to J.P. Morgan (PDF 16kB)

ANZ today announced it has agreed to sell its Custodian Services business in Australia and New Zealand to J.P. Morgan.

ANZ Group Managing Director, Institutional, Shayne Elliott said: “Custodian Services is increasingly a global scale business and J.P. Morgan Worldwide Securities Services is ideally placed to service this portfolio of clients with its comprehensive suite of custody and securities products and solutions.


“This transaction continues the process of refocusing ANZ’s Institutional business on our core banking priorities in Australia, New Zealand and Asia,” Mr Elliott said.


The transaction is expected to be completed before 31 December 2009, subject to regulatory approvals, and will be followed by the progressive transfer of business and staff within 2010.


J.P. Morgan Worldwide Securities Services is a leading global securities servicing provider with US$14.9 trillion in assets under custody and US$5.1 trillion in assets under administration. 


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