Mortgage insurance provider Genworth Mortgage Insurance Australia has appointed JP Morgan as its custodian and administrator following a competitive tender process.
Genworth has awarded JP Morgan a mandate to deliver custody and investment administration services for its $3.5 billion investment portfolio, according to a statement.
Commenting on the appointment, Genworth Australia chief financial officer Luke Oxenham said, “We are confident that JP Morgan’s global capabilities, technology infrastructure and locally-based client support will ensure it is a strong partner for our business and will meet our requirements and objectives.”
JP Morgan Australia and New Zealand head of sales and client management, investor services Bryan Gray said the company’s global capabilities and local presence would deliver Genworth “tailored services … in a seamless way”.
“Our continued investment in the needs of our insurer clients also ensures we are able to address changing regulatory requirements,” he continued.
“JP Morgan’s access to a diverse range of products across the breadth of our business, including OTC derivatives and collateral management services, securities lending services, extensive markets coverage and execution services, and industry intellectual capital, ensures we are well-positioned to service Genworth’s immediate and future needs.”
The multinational asset manager has decided to drop investments in thermal coal, oil sands and Arctic drilling from all of its mutual funds....
Treasurer Josh Frydenberg has said the government will no longer aim for budget surpluses as he laid out a two-phase plan for Australia’s ...
AMP Capital has bought a majority stake in international infra tech fibre company VX Fiber, on behalf of investors in its infrastructure equ...
Subscribe to our newsletter
Copyright © 2020 Investor Daily
Get notifications in real-time for staying up to date with content that matters to you.
Read More