Business

ANZ sells Custodian Services

21:27 pm on 20 November 2009

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

ANZ says the sale continues its plans to refocus its institutional business on core banking priorities.

The transaction is expected to be completed before the end of the year, subject to regulatory approvals, and will be followed by the progressive transfer of business and staff next year.