Home›Procurement News›Australia : Northern Trust Company appointed as custodian of Mercer funds in Australia
Procurement And Tender News
Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.
Australia : Northern Trust Company appointed as custodian of Mercer funds in Australia
Publish Date : 16-Jul-2015
Following an extensive competitive tender process Mercer has appointed Northern Trust Company to undertake custody and investment administration of Mercer’s investment and superannuation funds in Australia.
The process to identify a preferred custodian for Mercer’s funds was thorough and drew on the expertise of Mercer Sentinel, Mercer’s specialist investment operations consulting unit and involved a number of non-executive directors of the relevant fiduciary entities.
Simon Eagleton, Leader of Mercer’s Investments Business in the Pacific market, said, “Northern Trust was appointed due to the strength of its offer to meet Mercer’s business requirements and growth ambitions in both an institutional and retail investment context.”
“Northern Trust’s significant ongoing investment in technology, ability to work with us to improve efficiency, and its enhanced risk management capabilities were all important considerations for us.
“Northern Trust will provide us with timely and comprehensive access to a richer data set than has been available to date, along with broader access to emerging markets.
“We believe there is a strategic and cultural alignment between Mercer and Northern Trust, a global provider whose core business is custody and investment administration.
We are confident this will add value to Mercer’s business and to our clients and customers,” he said.
Northern Trust will succeed NAB Asset Servicing as the custodian of Mercer’s funds in the Australian market.
“Mercer’s relationship with NAB is long-standing and we are appreciative of the service we’ve received during our relationship. We look forward to continuing our relationship across many parts of our business,” said Mr Eagleton.
