J.P. Morgan has been re-appointed as custodian by HESTA, the $46 billion Australian superannuation fund.
For the next three years, J.P. Morgan will continue to provide HESTA’s custody and fund services, marking a partnership of more than 20 years.
According to HESTA, J.P. Morgan was appointed after a comprehensive review that included investigating how the custodian could continue to support its ambitious five-year investment strategy.
Meanwhile, during this period of investment and growth, J.P. Morgan will continue to work closely with the fund to support its multi-year strategic agenda and deliver innovative solutions focused on enhancing member returns.
Nadia Schiavon, head of custody and fund Services, J.P. Morgan, Australia and New Zealand, commented: “HESTA is one of the industry’s most respected and best-performing superannuation funds that continues to demonstrate strong growth.”
“Our extensive market experience and proven track record ensures we are best-placed to partner with HESTA as it continues to build on its internal investment capacity and further develop its data strategy and investment analytics.”
Bryan Gray, head of sales and client management, investor services, J.P. Morgan, Australia and New Zealand, said: “We are delighted HESTA has reappointed J.P. Morgan as its custodian, allowing us to continue our successful partnership.”
“We understand the importance of delivering value for our clients and their members and we pride ourselves on providing first class customer service.”
“In addition to our custodial services, through the capabilities of our broader bank, we can provide HESTA with access to market-leading research, global investment opportunities, significant technology investments, and thought leadership.”
Debby Blakey, HESTA CEO, added: “Accessing leading global investment thinking and continuing to provide outstanding investment execution are crucial to delivering strong, long-term performance for members.”
“We’re implementing ambitious plans to build our internal investment capacity, and leveraging new collaborative opportunities with existing partners, like J.P. Morgan, underpins this strategy.”
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