No deal between ANZ Investments and Mercer
The $30 billion-plus ANZ Investments and global investment manager Mercer have abandoned their partnership deal.
Tuesday, December 10th 2024, 3:47PM
by Kim Savage
The companies last year signed a non-binding memorandum of understanding to work together, with ANZ Investments intending to leverage Mercer’s global expertise in investments and investment governance.
A spokesperson for ANZ Investments confirmed the Mercer deal will not go ahead.
“We have decided not to proceed with an investment partnership with Mercer, having agreed with Mercer the partnership would not achieve its expected goals.
“We continue to explore other potential partnerships, and deepening our relationships with existing external investment managers, to help us deliver good investment outcomes for our customers.”
At the time of the MOU signing, ANZ Investments managing director Fiona Mackenzie explained the reason the local investment manager was looking for an offshore partner, citing the need to adapt and evolve to ensure customers’ needs are met.
ANZ Investments does have its deal with BlackRock, announced in September this year, which sees the global giant provide investment risk management and reporting services to ANZ Investments as well as providing access to their global risk and investment insights.
“ANZ Investments remains committed to active investment and will continue to take the lead on investment decisions and select the assets we believe will perform strongly over the long term.”
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