ANZ has appointed JP Morgan to offer global custody services for three equity ETFs for its newly launched exchange traded fund business.
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ANZ ETFS co-head Adam Smith said: "It was essential that our chosen listed equities custody provider have the capability to assist us in establishing the offering and delivering the services required to support our growth plans.
"JP Morgan’s deep knowledge of the market, global networks, and investment in technology and solutions that service the immediate and future needs of ANZ ETFS had a direct impact on the selection of JP Morgan for this service."
In the coming weeks, six new ETFs will be listed on the Australian Securities Exchange for ANZ ETFS Management, which is a joint venture between ANZ and London-based ETF Securities, reported Financial Standard.
JP Morgan Investor Services Executive director and senior relationship manager David Brown said: "ANZ ETFS engaged JP Morgan in the early stages of this project to ensure the benefits of our custodial expertise and extensive knowledge supported the product development process."
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