HESTA extends custodial partnership with J.P. Morgan

Yasmine Raso

Senior Journalist

10 June 2026

The nearly three-decades-strong partnership between HESTA and J.P. Morgan received an all-important boost yesterday with the announcement that J.P. will continue to provide custody and fund services for the industry superannuation fund for next five years.

J.P. Morgan’s re-appointment follows an “independent review process” that was undertaken by the $102 billion fund, and comes as HESTA – supported by J.P. – has actively moved to grow its internal investment capabilities to now manage more than 20 per cent of its portfolio in-house.

J.P. will continue to be responsible for a variety of services as HESTA’s custodian, including safekeeping of assets, fund accounting, valuation, tax and regulatory reporting, performance measurement, and middle office services.

“J.P. Morgan has been a trusted partner of HESTA for nearly three decades and its support has been integral to a significant period of investment growth and transformation for the Fund,” HESTA CEO, Debby Blakey, said.

“With more than $100 billion in member retirement savings and close to 20% of our investment portfolio managed internally, it’s fantastic HESTA will continue to access world-class investment expertise and services.

“This longstanding partnership can support us as we strive to continue delivering strong, long-term returns for our members.”

The continuation of its partnership with HESTA ensures J.P. remains the largest custodial services provider in the local market, boasting close to $1.5 trillion in assets under custody.

“As the superannuation industry evolves, we remain committed to helping HESTA navigate increasing change and complexity.

“We look forward to continuing our enduring partnership and to contributing to HESTA’s ongoing success by delivering our global scale, tailored solutions, innovation, and local market expertise,” Nadia Schiavon, Head of Securities Services at J.P. Morgan Australia and New Zealand, said.

“We value our long-standing relationship with HESTA and have worked closely to support the fund’s evolving needs,” Nick Paparo, Head of Securities Services Sales at J.P. Morgan Australia and New Zealand, said.

“This reappointment reflects the confidence HESTA has placed in us and underscores our leading capabilities and commitment to supporting our superannuation client community. We are excited and honoured to partner with HESTA in their next phase of growth.”