NEWS - Financial Services
ANZ sells Custodian Services to JP Morgan
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Source: News Bites
Australia and New Zealand Banking Group Ltd will sell its custodian services business in Australia and New Zealand to JP Morgan.
ANZ Group managing director, institutional, Shayne Elliott said Custodian Services was increasingly a global scale business and JP Morgan Worldwide Securities Services is ideally placed to service the portfolio of clients.
“This transaction continues the process of refocusing ANZ’s Institutional business on our core banking priorities in Australia, New Zealand and Asia,” Mr Elliott said.
The transaction is expected to be completed before December 31, 2009, and will be followed by the progressive transfer of business and staff within 2010.
STOCK DASHBOARD: November 20, 2009
Australia And New Zealand Banking Group
Price at 11:00 am: $21.80
Price change from previous trading day: -2.0%
Relative Strength (6 months percentile rank): 59.0
Market capitalisation: $54.6 billion
Dividend Yield: 4.7%
Price/Earnings: 13.4 times
Turnover volume: 1,806,697.0
Volume Index (1 is average): 1.1
Turnover value: $39.6 million
Turnover period: 1 year 4 days
Value of $1,000 invested 1 year ago: $1,766
Source: www.BuySellTips.com
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