Indian-based technology firm, Tech Mahindra, has secured the mandate for LGIAsuper’s administration services, representing a major step in the company’s foray into the Australian market.
The super fund’s decision followed a competitive tender process, with the deal with Tech Mahindra expected to provide significant savings for members by halving the annual costs of providing administration from 2021.
LGIAsuper chief executive, Kate Farrar, noted that Tech Mahindra also had a large local presence, with more than 180 staff employed in Queensland and established partnerships with companies in the region.
The new partnership would take effect from 1 November, this year.
The fund has announced three executive-level appointments, including a new chief investment officer.
The super fund has tapped a former Vanguard and Plato Investment Management executive to lead its fixed interest team.
The firm has grown its wealth management team with an experienced distribution specialist.
The $36 billion fund has announced the appointment of an experienced public sector executive leader.
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