J.P. Morgan Investor Services has won a key institutional custody mandate.
Big corporate fund, Telstra Super, has appointed J.P. Morgan Investor Services to provide master custody and investment reporting services following an extended tender and review process.
In being selected by Telstra Super, J.P. Morgan has displaced National Australia Bank Asset Servicing which had held the mandate for around 25 years.
Commenting on the mandate, Telstra Super head of Investment Operations, Miles Mallick said the fund had been impressed by J.P. Morgan’s capability to meet both its core custody requirements as w3ell as the increased demands associated within in-house investment management activities.
J. P. Morgan is expected to commence delivery on the mandate in the first half of 2016.
