Five-Year Extension for Custody Services
On June 9, 2026, HESTA announced the renewal of its partnership with J.P. Morgan, which will continue to provide custody and fund services for the next five years. This decision followed an independent review process that emphasised the enhancement of value for HESTA members.
Debby Blakey, CEO of HESTA, stated, “J.P. Morgan has been a trusted partner of HESTA for nearly three decades, playing a critical role in supporting our $102 billion fund.” This partnership is vital for delivering impactful superannuation services to over one million members.
The collaboration with J.P. Morgan has significantly contributed to investment growth and transformation. “With more than $100 billion in member retirement savings, it’s fantastic that HESTA will continue to access world-class investment expertise and services,” Ms. Blakey added.
Services and Impact
J.P. Morgan provides HESTA with essential services such as asset safekeeping, fund accounting, valuation, tax and regulatory reporting, and performance measurement. This support has facilitated the expansion of HESTA’s in-house investment capabilities, enabling the fund to manage nearly 20% of its portfolio internally.
Nadia Schiavon, Head of Securities Services at J.P. Morgan Australia and New Zealand, expressed her commitment: “We remain dedicated to helping HESTA navigate industry changes with tailored solutions and local expertise.” She emphasised the importance of this enduring partnership in HESTA’s ongoing success.
Nick Paparo, Head of Securities Services Sales at J.P. Morgan Australia and New Zealand, commented on the collaboration, stating, “The reappointment reflects the confidence HESTA places in us and underscores our leading capabilities.” J.P. Morgan is recognised as the leading provider of custodial services in the Australian market, with assets under custody valued at $1.49 trillion.
HESTA is one of the largest superannuation funds dedicated to Australia’s health and community services sector. It manages approximately $104 billion in assets, with around 80% of its million members being women.
Last updated: 9 June 2026, 11:15 am
