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ANZ custodian business now fully migrated by J.P. Morgan
J.P. Morgan Treasury & Securities Services has completed the migration of direct and master custody clients from ANZ Custodian Services.
The integration was completed within a year of the acquisition in late 2009, and more than 150 ANZ Custodian Services staff in Melbourne and Wellington have joined J.P. Morgan, the firm stated.
J.P. Morgan also recently announced the expansion of its direct custody and clearing capabilities globally, with the firm already offering a custody and clearance service to institutional investors in more than 100 markets.
Jane Perry, chief executive of J.P. Morgan Treasury & Securities Services, Australia and New Zealand, said that custody continues to move towards a scale-driven business model.
“A direct custody service enables us to meet the needs of clients with cross-border investments in Australia and New Zealand, and to add new clients seeking local custody and clearing services and grow these relationships globally,” she said.
The provision of direct custody in Australia and New Zealand is part of the Asia Pacific growth plan for the Treasury and Securities Services business, according to J.P. Morgan.
“We remain committed to enhancing our [on-the-ground] coverage in key Australasian financial centres such as Sydney, Melbourne and Wellington,” Perry said.
J.P. Morgan Treasury & Securities Services has this year expanded its local on-the-ground presence, product range and client servicing capabilities, and hired an additional 500 financial professionals in the Asia Pacific, the firm stated.
AUTHOR
Mike Taylor
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