ANZ (ASX:ANZ) today said in a statement that it has agreed to sell its Custodian Services business in Australia and New Zealand to JP Morgan as the bank is refocusing its institutional business on core banking priorities in Australia, New Zealand and Asia. Sale completion is expected before December 31, subject to regulatory approvals, and will be followed by a progressive transfer of business and staff during 2010.
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ANZ (ASX:ANZ) today said in a statement that it has agreed to sell its Custodian Services business in Australia and New Zealand to JP Morgan as the bank is refocusing its institutional business on core banking priorities in Australia, New Zealand and Asia. Sale completion is expected before December 31, subject to regulatory approvals, and will be followed by a progressive transfer of business and staff during 2010.