JPMorgan selected by ACC to provide services

by Richard Kilner

Story link: JPMorgan selected by ACC to provide services

On Wednesday, JPMorgan announced that Accident Compensation Corporation of New Zealand (ACC) had chosen it to provide custodial and administrative services.

The comprehensive services will be provided to ACC’s Australian portfolio, and marks another expansion of JPMorgan into New Zealand.

According to ACC, JPMorgan Investor Services was appointed due to its solution set, which was considered to be the most comprehensive available for ACC’s Australian needs.

Through JPMorgan Access real time report services will be provided, in addition to a tool dedicated to investment administration reporting and a proprietary online custody.

JPMorgan is committed to being the favoured service provider to the markets of New Zealand and Australia, according to Jane Perry, CEO of JPMorgan Worldwide Securities Services Australia & New Zealand.

Perry went on to describe the deal with ACC not merely as an innovative offering, but as a new relationship with one of New Zealand’s foremost entities.