How sweet it is: JP Morgan gets to flick NAB

Investment Strategy

How sweet it is: JP Morgan gets to flick NAB

Laurence Bailey is a patient person. He first expressed interest in buying ANZ Custody, on behalf of the then Chase Manhattan Bank, about nine years ago. Last year he put in what would probably have been a winning bid only to see the ANZ business withdrawn from sale. Last week he was, at last, successful.